$3,000,000 Retail Loan from Life Insurance Company
Trevor Blood of PSRS arranged the $3 million refinance of a retail property in Temecula, California. The subject property is a 21,197 SF, multi-tenant retail shopping center located on the way to Temecula wine country. Financed with life insurance company execution, PSRS provided its borrower with a 30-year loan term. The borrower decided to defease their existing CMBS loan well in advance of their maturity to hedge against interest rate risk and benefit from a loan with a trusted life insurance company, with PSRS as a servicer.