$5,250,000 Industrial Loan from Life Insurance Company
City: Chino, CA
Loan amount: $5,250,000
Lender type: Life Insurance Company
Property type: Industrial
Size: 52,000 SF
Ryan Frankman and Ari Zeen of PSRS arranged the $5.25 million acquisition financing of an industrial property in Chino, California. The subject property is a 52,000 SF, single-tenant, free-standing industrial property sitting on 2.12 acres of land. The property includes 3,200 SF of office on the ground floor. Financed with life insurance company execution, PSRS provided its borrower a two-year interest-only, non-recourse loan with a five-year term and 25-year amortization. PSRS was able to close this transaction on a tight timeline to satisfy the borrower’s 1031 exchange deadline. The transaction was able to close in 30 days, even with a minor environmental issue which the lender understood and let the borrower satisfied after closing.