Cerritos Retail

Transaction description

Michael Warner of PSRS arranged $5.4 million in bridge-to-sale financing for a 42,568-square-foot retail property in Cerritos, California. Facing loan maturity while actively marketing the asset for sale, the repeat borrower required a custom capital solution after the incumbent bank declined a refinance during an active disposition process. Sourced through a flexible bank lender, PSRS structured an 18-month, full interest-only facility incorporating a 12-month interest reserve, giving the sponsor complete debt service coverage and execution flexibility while completing the asset sale.