$7,800,000 Industrial Loan from Life Insurance Company
PSRS secured a long term non-recourse loan on an industrial/office building located in Simi Valley, CA. It was funded through one of their correspondent life insurance companies with a rate fixed for 20 years. The facility was leased to a single tenant with less than five years remaining in their term. PSRS was able to overcome this by demonstrating the strength and experience of the sponsor and the long term viability of the market.