Industrial & Office Portfolio
$31,622,500 Acquisition Financing of Flex Industrial/Office buildings in Southern California
James Mulvihill of PSRS arranged the $31.6MM acquisition financing of five multi-tenant buildings located in Chula Vista and Mission Valley, California. The subject portfolio includes four properties with “flex” industrial and office elements along a stretch of Bay Boulevard in the South County city of Chula Vista and a multitenant office building at 5920 Friars Road in San Diego’s Mission Valley neighborhood. Tenants in the portfolio include Cox Communications, National University, Fresenius Medical, Bayfront Charter School, and West Marine. Financed with CMBS execution, PSRS was able to secure for its borrower a $31,622,500 loan (67% LTV) with a 10-year full-term of interest only, locking rate at 3.087%.