Recent Transactions

Kostas Kavayiotidis and Matthew Farzinpour of PSRS arranged the $11.8 million acquisition financing of a retail shopping center in Chicago, Illinois. The subject property is a 122,710-square-foot shopping center development built in 2015 containing national retailers such as Marshalls, Ross Dress for Less, PetSmart, Shoe Carnival, and Ulta. The property has excellent visibility, pylon signage, signalized entrances, and access via public transportation on a major thoroughfare. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse, 10-year loan term (seven years interest only) with a 30-year amortization.

Jen Mustard and Matt Winkler of PSRS arranged the $1.2 million refinance of a multifamily property in San Diego, California. The subject property is a two-story, wood-framed, apartment building with a courtyard in the Hillcrest area of San Diego. Community amenities include a quiet setting, available sun deck area, laundry facilities onsite, and storage lockers for personal use. Built in 1969, there are 14 total units along with 14 parking spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a 21% LTV, non-recourse loan, with a 10-year term and 30-year amortization. After being turned down by their bank due to size and cash-out, this Life Company loan helped the borrower (a family trust) to refinance the small balance of their current loan and provide cash-out to invest in new real estate.

David Sarnoff of PSRS arranged the $2.65 million refinance of the highly acclaimed Benny Boy Brewing in the Lincoln Heights neighborhood of Los Angeles, California. This new loan replaces the development loan that Sarnoff placed for the owner and developer, Ventana Ventures, who worked with Curato DB to bring the project to life. The 7,671-square-foot site now houses the brewery, a cider house, a beer garden, and plenty of outdoor space. Financed with one of our correspondent life insurance companies, PSRS provided a permanent loan that retires their bridge debt and provides cash out to the investors.