$1,500,000 Retail Loan from Life Insurance Company
Michael Tanner and Jonny Soleimani of the PSRS LA office arranged the $1.5M refinance of a retail plaza in Wilmington, CA. The retail lot is composed of a one-story building totaling 6,500 square footage of retail space. Executed with one of our correspondent life insurance company lenders, this loan was non-recourse with a 10-year term and 30-year amortization schedule. Not one tenant has requested rental relief during the current Covid-19 pandemic.