Channel Islands Center
$3.25 million refinance of a multi-tenant retail shopping center in Oxnard, CA
Life Insurance Company
Michael Tanner and Jonny Soleimani of PSRS, arranged the financing of a $3.25 million refinance loan of a strip retail center in Oxnard, California. The property offers 15,750 square feet of retail and is located right off Oxnard Boulevard. One of our Life Insurance capital sources provided non-recourse financing and a loan term of 10 years and a 30-year amortization. We were able to finance this multitenant retail shopping center despite the limitations of COVID-19 in which many tenants have stopped paying rent, making many borrowers unable to land the type of financing than they would in a normal lending environment. Repeat borrower who’ve we have done a lot of deals with.