Carmenita Painter Business Park

Transaction description

Trevan Swierczewski of PSRS arranged the $3,000,000 cash-out refinance of an industrial property located in Whittier, California. The subject property is a 56,530 SF multi-tenant industrial park comprised of four meticulously maintained buildings constructed in 1986. The property features 30 suites occupied by a variety of industrial manufacturing and service provider tenants. Financed with bank execution, PSRS provided its borrower a 7-year fixed-rate, non-recourse loan with 24 months of interest-only followed by a 25-year amortization. In a rising interest rate environment, PSRS secured a competitive rate of 4.50% and gave the borrower flexibility with no prepayment penalty during the loan term.