99 Cents Only
$3,665,000 Retail Loan from Life Insurance Company
Jacob Lee and Thomas Rudinsky of PSRS arranged the $3,665,000 refinance of a retail property in Tempe, Arizona. The subject property is a single-tenant, 31,186 SF, 99 Cents Only retail asset located as a portion of a Walmart Supercenter anchored shopping center. The site is located just two miles from the Arizona State Campus in a high-traffic retail corridor that includes Fry’s, CVS, and Target. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a competitive fixed-rate loan with two years of interest only and a step-down prepay.