Barstow Road Center

Transaction description

Ryan Frankman and Ari Zeen of PSRS arranged the $6.5 million refinance of a retail center in Barstow, California. The subject property is anchored by a Food 4 Less grocer and includes other major tenants like Marshall’s, Best Furniture, and Harbor Freight. PSRS sourced and closed the deal in 45 days with a regional bank and was able to rate lock with a refundable deposit and zero deposits required past the close of escrow. Negotiated for the borrower were three years of interest only even with a near-term roll of major tenants. The loan’s interest rate is fixed for seven years with a 25-year amortization and three years of interest only.