Northgate Mercado del Barrio

$8,100,000 Retail Loan from Life Insurance Company

City: San Diego, CA
Loan amount: $8,100,000
Lender type: Life Insurance Company
Property type: Retail
Size: 35,891 SF

Transaction description

Michael Thorp and Ari Zeen of PSRS arranged the $8.1 million refinance of a grocery market in San Diego, California. The subject property is a 35,891 SF shadow-anchor Northgate Gonzalez market in the “Mercado Del Barrio” mixed-use center located off the busy intersection of Cesar Chavez Parkway and Main St in San Diego. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan, with a five-year term and a 30-year amortization along with proceeds in cash-out.

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