$4,750,000 Retail Loan from Life Insurance Company
Kostas Kavayiotidis and Jacob Lee of PSRS arranged the $4.75 million refinance of a retail center in Corona, California. The subject property is a shadow-anchored strip retail center located in the Corona submarket of Los Angeles and features 15 tenants across 28,708 SF. The property is shadow-anchored by a national grocery chain with a rent roll that included many national tenants, including Chipotle, Subway, and AutoZone. Financed with one of our correspondent life insurance companies, PSRS was able to provide for its borrower a non-recourse loan with a 15-year term and 30-year amortization.