$6,900,000 Office Loan from Life Insurance Company
Grady Seldin of PSRS arranged the $6.9 million refinance of a multi-tenant office property located in Downey, California. The subject property is a 65,481 SF, six-story office building constructed in 1969 with a track record of consistent renovations and capital improvements. The owner acquired the property decades ago and occupancy has never been an issue with small suites and excellent management. Financed with one of our correspondent life insurance companies, PSRS provided its borrower an attractive fixed rate, cash-out, non-recourse loan with a 10-year term and a 30-year amortization.