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Recent Transactions
$7,500,000 Refinance of a Mixed-Use Property in San Francisco, California.
FINANCED Market Street Office
Lender:Bank City:San Francisco, California Size:28,498 SF
David Semmer of PSRS arranged the $7.5 million refinance of a mixed-use property in San Francisco, California. The subject property is a 28,498-square-foot, four-story, mixed-use creative office building with retail on the ground floor. The office portion of the property has high ceilings, ample natural light, HVAC, and operable windows. The property is steps away from BART and Cable Car access. Financed with bank execution, PSRS provided its borrower with a 50% LTV, nine-year, interest-only term.
$2,500,000 Line of Credit Facility for a Multifamily Property in North Hollywood, California.
FINANCED Vineland Apartments
Lender:Life Insurance Company City:North Hollywood, California Size:25 Units
Grady Seldin and George Gianoukakis of PSRS arranged a $2.5 million line of credit facility for a 28-unit multifamily property in North Hollywood, California. Built in 1954, the low-rise complex features a mix of one- and two-bedroom units and is located in a high-demand rental pocket of the San Fernando Valley.
PSRS arranged the facility with a regional bank with whom it has a long-standing relationship. The line was structured to give the borrower flexibility to draw funds as needed for capital improvements and ADU development across their portfolio, reflecting the lender’s confidence in both the borrower’s operating capabilities and PSRS’s relationship-driven execution.
$9,000,000 Refinance of a Retail Property in Orange County, California.
FINANCED Orange County Bass Pro
Lender:Bank City:Orange County - California Size:21,478 SF Term:5-year, 25-year amortization
Jonny Soleimani of PSRS arranged the $9 million refinance of a retail property in Orange County, California. The subject property is a 21,478 SF retail showroom constructed in 2015 with masonry construction. Despite the tenant being a few months away from occupancy, a signed corporate-guaranteed lease with rent having commenced was enough for a formidable nationwide bank specializing in NNN deals to get comfortable. Part of the reason they won the deal over other compelling quotes was based on limited recourse (<50%) and a negotiated 2%, 1.5%, 1%, 0.5%, 0% prepayment penalty. There was also a minimal lender fee, minimal overall costs, and no deposit requirements whatsoever. Less than a year after closing escrow on the acquisition, PSRS provided its borrower with a 58% LTV/85% LTC loan with a 5-year term and 25-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.
