$15,500,000 Retail Loan from Life Insurance Company
City: Torrance, CA
Loan amount: $15,500,000
Lender type: Life Insurance Company
Property type: Retail
Size: 57,000 SF
Trevor Blood coordinated financing through one of PSRS’ top correspondents, for this 57,000 square foot, the United States’ Japanese supermarket, located in Torrance, CA. Originally constructed in 1991 the property has been occupied by the tenant, Mitsuwa Supermarket since construction was completed. The property contains a 2-story parking structure (ratio of 6.06/1,000 sf) and located on neighboring contiguous parcels are Mitsuwa’s Corporate Headquarters, the Miyahko Hotel, Daisco Japan (stationary, toys, etc.) and several restaurants that serve the demographic. The limited recourse 5 year fixed rate term, amortizes over 25 years, with options to renew the term on an ongoing basis every 5 years.
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