GOLETA – RETAIL PLAZA

$29,000,000 Shopping Center Loan from Life Insurance Company

City: Goleta, CA
Loan amount: $29,000,000
Lender type: Life Insurance Company
Property type: Shopping Center
Size: 75,564 SF

Transaction description

PSRS arranged non-recourse construction financing for this retail center in Goleta (near Santa Barbara), CA with one of its many correspondent life companies, and secured a fixed interest rate for a long-standing borrower. Newly constructed in 2016, the center is comprised of five multi-tenant retail buildings and one single-tenant pad building, and includes 75,564 SF of gross leasable area and two long-term anchor tenants. The Shopping Center has good access and commercial exposure due to its direct placement along a frontage road.

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