David Sarnoff of PSRS arranged the $5MM cash-out refinance of a mixed-use property in Laguna Beach, California. The subject property consists of three ground-level retail spaces with five apartments on the floor above. The 6,850 SF, three-story building has been recently renovated and its retail portion enjoys 53 feet of frontage along Pacific Coast Highway. Financed with one of its correspondent banking relationships, PSRS was able to provide its borrower a non-recourse, 10-year interest-only loan and will sub-service the loan as part of its $6.4B servicing portfolio.

Michael Warner of PSRS arranged the $3.73MM acquisition financing of a retail center in McKinney, Texas. The subject property is a multi-tenant retail center comprised of 10,175 SF and six tenants. At the time of closing, the property had an occupancy rate of 87%. Financed with one of our correspondent life insurance companies, PSRS was able to provide for its borrower a 63% loan-to-purchase, 3-year term loan with a 25-year commitment and amortization. Provided with an early rate lock, the borrower chose PSRS to help finance the acquisition of this property as part of a 1031 exchange.

David Sarnoff of PSRS arranged the $3,487,500 acquisition financing of a single-family residential development site in Laguna Beach, CA. The subject property currently has a 2,100 SF home that with tremendous ocean views that will be scraped to make way for a new development roughly twice the size. Financed with a debt fund execution, PSRS was able to provide for its borrower a one-year, interest only loan that closed very quickly with limited documentation required in order to meet seller's requirements in what was a heated competition for the property.