Grand Avenue Plaza

Transaction description

Trevor Blood of PSRS arranged the $2.7 million refinance of a retail property in San Marcos, California. The subject property is a 6,962 SF, multi-tenant retail plaza and includes 120 parking spaces. Financed with life insurance company execution, PSRS provided its borrower with a 30-year loan term. The borrower decided to defease their existing CMBS loan well in advance of their maturity to hedge against interest rate risk and benefit from a loan with a trusted life insurance company, with PSRS as a servicer.