Gas Station Ground Lease

$1,075,000 Ground Lease Loan from Life Insurance Company

City: Costa Mesa, CA
Loan amount: $1,075,000
Lender type: Life Insurance Company
Property type: Ground Lease
Size: 9,259 SF

Transaction description

Michael Tanner and Tony Messiah of PSRS arranged the $1,075,000 refinance of a leased fee interest of a ground lease under a gas station in Costa Mesa, CA. This is a 14,850 SF Chevron gas station with G&M Food Mart occupying 990 SF of building space with six parking spaces. The property was built in 1981 and is 100% occupied. Financed with bank execution, PSRS provided its borrower with a 10-year loan term with a 25-year amortization.




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