Goleta R&D Flex

Transaction description

Seth Ludwick and Thomas Rudinsky arranged a $20.35 million non-recourse cash-out refinance for an 83,000 SF flex R&D facility in Goleta, California. Fully leased to a prominent defense contractor on a long-term agreement, the property features varying clear heights and high-capacity electrical upgrades to suit a specialty use. PSRS placed the debt with a correspondent life insurance company, securing a 65% LTV loan with a five-year term and 30-year amortization, resulting in a 100% return of equity to investors.