Copley Industrial

$3,000,000 Industrial Loan from Life Insurance Company

City: San Diego, CA
Loan amount: $3,000,000
Lender type: Life Insurance Company
Property type: Industrial
Size: 33,000 SF

Transaction description

James Mulvihill and Kevin Mulvihill of PSRS arranged the $3 million refinance of an industrial property in San Diego, California. The subject property is a 33,000-square-foot, single-tenant industrial property built in 1998 on a 1.82-acre site. Features include a clear height of 24’, three drive-in bays, and 81 standard parking spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a non-recourse loan with a 10-year term and 30-year amortization. The borrower was provided a Spring 2023 rate lock to secure an attractive, sub-5.25% interest rate ahead of a Fall 2023 existing loan maturity.

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