Ontario Industrial

Transaction description

David Sarnoff of PSRS arranged the $1.8 million cash-out refinance of a single-tenant industrial property in Ontario, CA. The well located and beautifully maintained property has more than 29,000 SF of space, high ceilings, and multiple 14′ drive-in doors. Financed with a credit union execution, PSRS was able to provide for its borrower a seven-year loan term with five years of interest only and a rate in the mid-3s. The loan also features a 3/2/1 open prepay structure giving the borrower lots of flexibility.