Butterfield Ranch Shopping Center
$9,700,000 Retail Loan from Life Insurance Company
Trevor Blood of PSRS arranged the $9.7 million refinance of a retail shopping center in Temecula, California. The subject property is a 42,020 SF, multi-tenant retail shopping center located in the highly desirable South Temecula market. Financed with life insurance company execution, PSRS provided its borrower with a 30-year loan term. The borrower decided to defease their existing CMBS loan well in advance of their maturity to hedge against interest rate risk and benefit from a loan with a trusted life insurance company, with PSRS as a servicer.