$4,600,000 Office Loan from Life Insurance Company
Grady Seldin of PSRS arranged the $4.6 million acquisition financing of an office property in Albuquerque, New Mexico. The subject property is a multi-tenant office building constructed in 2009 and comprises 31,880 SF of office space. Well positioned, the subject property lies on the northeast side of the Albuquerque metro area, approximately 10 miles from the central business district. Financed with one of our correspondent life insurance companies, PSRS was able to arrange a fixed-rate mortgage that closed quickly in order to hit the acquisition timeline and milestones. The ability to lock rate upfront with life insurance companies saved the borrower significantly from lock to close.