$8,050,000 Refinance for a Retail Property in Westminster, California.
FINANCED Dover Retail
Lender:Life Insurance Company City:Westminster, California Size:55,834 SF Term:25-year term; 25-year amortization
Rob Joseph and Ari Zeen of PSRS arranged the $8.05 million refinance of a retail property in Westminster, California. The subject property is a 58,834-square-foot shopping center located in the heart of Little Saigon in Westminster that offers a variety of Vietnamese cuisine alongside a diverse mix of tenants. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a 35% LTV, 25-year loan term, and 25-year amortization.
$2,450,000 Acquisition Financing for a Medical Clinic in Los Angeles, California.
FINANCED DTLA Medical Clinic
Lender:Bank City:Los Angeles, California Size:8,000 SF Term:Five-year term; 30-year amortization
Michael Tanner and George Gianoukakis of PSRS arranged the $2.45 million acquisition financing of a medical clinic in Los Angeles, California. The subject is a freestanding, single-tenant medical clinic with 8,000 rentable square feet and a parking lot with 20 spaces that has been recently renovated. Financed with bank execution, PSRS provided its borrower with a five-year loan term and 30-year amortization.
About PSRS Founded in 1972, PSRS is a commercial mortgage banking firm that helps real estate investors of all sizes structure and secure financing solutions that align with their investment goals.
