Distribution Ave Industrial

Transaction description

Jennifer Mustard of PSRS arranged the $3.85 million cash-out refinance of a multi-tenant industrial property in San Diego, CA. The subject property is an existing multi-tenant industrial property containing 30,355 square feet of rentable area. The improvements were constructed in 1985 and are 100% leased. The property is well located in Miramar, a prime industrial area in San Diego. Financed with credit union execution, PSRS was able to provide for its borrower a 3.5% rate, a 10-year loan term plus a $1 million cash out for other investments.