Moreno Valley Shops
$5,200,000 Retail Loan from Life Insurance Company
Michael Warner of PSRS arranged a $5.2 million construction loan refinance for a grocery-anchored shopping center in Moreno Valley, California developed by Southern California-based The Lynch Group Inc. The subject property is a 26,800-square-foot shopping center with major tenants Aldi, Starbucks, and The Habit Grill. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse, 65% LTV loan with a 10-year term, 30-year amortization, and flexible prepayment penalty.