Olde Towne Plaza
$4,300,000 Refinance of a Grocery-Anchored Shopping Center in Portsmouth, Virginia.
City: Portsmouth, VA
Loan amount: $4,300,000
Lender type: Life Insurance Company
Property type: Retail
Size: 42,000 SF
Trevor Blood of PSRS arranged the $4.3 million refinance of a grocery-anchored shopping center in Portsmouth, Virginia. The subject property is located within the Virginia Enterprise Zone and comprises 42,000 SF of gross leasable area. Built in 1999, the site consists of 191 parking spaces and is located along the busiest non-interstate corridor leading into Downtown Portsmouth. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a 25-year, limited recourse loan.