2020 PSRS Performance & Welcoming the New Year

Jonny Soleimani of PSRS recently arranged acquisition financing for a USC-adjacent vacant industrial building in Los Angeles, CA, with one of our correspondent Life Insurance Companies. The subject property is a 7,318 SF warehouse situated on a 0.17-acre lot in Los Angeles, CA. Built in 1950 with masonry construction, the subject property contains one 10’x10’ drive-in. The building has been vacant for approximately 6-7 months, but we were able to secure permanent financing due to an excellent new lease that both added instant value for the borrower and made our lender comfortable with this deal.

Michael Tanner and Jonny Soleimani of PSRS recently arranged the $4.4M non-recourse refinance of an industrial building in Jacksonville, Florida. The subject property is composed of a Class B, 48k SF industrial building and a 19k SF flex/retail building next to one another. Versatile zoning allowed for a broad range of uses including retail, office, and warehouse. Executed with one of our correspondent life company lenders, the loan carries a 10-year term with a 25-year amortization schedule. PSRS was able to secure this transaction on a tight timeline.