Recent Transactions

Mike Thorp and Ari Zeen of PSRS arranged the $13.25 million refinance of a retail plaza located in Wilmington, California. Located along a busy section of Pacific Coast Highway just east of the 101 freeway, Wilmington Plaza is 64,222 SF of retail space and is anchored by a Northgate Gonzalez Market and a variety of tenants including a CVS Pharmacy and Chase Bank. Financed with one of our correspondent life insurance companies, PSRS provided it borrower a non-recourse loan, with a five-year term and a 30-year amortization along with proceeds in cash-out.

Grady Seldin and Thomas Rudinsky of PSRS arranged the $3 million refinance of a multifamily property in Anaheim, California. The subject property consists of 34 units and was constructed in 1978 with multiple renovations since its inception. The property has various amenities like a pool, on-site laundry, gated facility, HVAC, etc. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan, with a seven-year, interest-only term.

Jonny Soleimani and Matthew Farzinpour of PSRS arranged the $3.725 million permanent financing of a retail property located in San Ramon, California, a transaction PSRS also arranged bridge acquisition financing for prior to year-end 2023. The subject property is a multi-tenant retail center consisting of 16,921 square feet of GLA constructed in 1990 and situated on 0.83 acres. The property contains a mix of tenants such as a billiards venue, a salon, a bistro, and a Chinese restaurant, and provides ample underground and surface parking, totaling 82 spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower just over 65% of the purchase price, taking out the bridge debt, on a five-year loan term and a 25-year amortization.

Ricky Giancola of PSRS arranged the $12,500,000 construction financing for a self-storage facility in Las Vegas, Nevada. The subject property is a 926-unit mini self-storage facility consisting of two, three-story buildings totaling 103,803 rentable square feet with additional covered stalls for RV, boat, or trailer storage. The deal was financed with a regional bank at 75% LTC. PSRS successfully negotiated for the bank’s deposit requirement to be considered as part of the project’s equity contribution. This strategy significantly reduced the borrower’s need to provide additional equity.

Mike Thorp and Ari Zeen of PSRS arranged the $3.5 million refinance of an industrial property in Anaheim, California. The subject property is a 22,860 SF freestanding industrial building with 2,000 SF used as an office area. There are two large, private, fenced yard areas with an oversized 1.39-acre lot. The building consists of 20-foot clear height with three dock high and four ground level doors. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan, with a five-year term and a 30-year amortization along with proceeds in cash-out.