GOLETA – RETAIL PLAZA
$29,000,000 Shopping Center Loan from Life Insurance Company
PSRS arranged non-recourse construction financing for this retail center in Goleta (near Santa Barbara), CA with one of its many correspondent life companies, and secured a fixed interest rate for a long-standing borrower. Newly constructed in 2016, the center is comprised of five multi-tenant retail buildings and one single-tenant pad building, and includes 75,564 SF of gross leasable area and two long-term anchor tenants. The Shopping Center has good access and commercial exposure due to its direct placement along a frontage road.