Indiana Street Industrial

Transaction description

Jonny Soleimani of PSRS arranged the $2.62 million refinance of an industrial property in Los Angeles, California. The subject property is a 34,260 SF multi-tenant industrial property situated on 1.2 acres built in 1949 of metal. It was most recently renovated in 1996 and has five available parking spaces. There is one dock and nine total 8×10 drive-ins. Financed with credit union execution, PSRS provided its borrower with a five-year term loan with a 25-year amortization and no prepayment penalty. Although rates rose significantly throughout the loan process, the lender honored their initial quote until close.