Otay Crossroads Plaza

Transaction description

Ricky Giancola of PSRS arranged the $3,940,000 cash-out refinance of Otay Crossroads Plaza in Otay Mesa, CA. Situated near the busiest commercial port of entry in California, the retail center benefits from a draw that extends to both sides of the US/Mexico border. Several local restaurants, AutoZone, Farmers Insurance, and Baja Duty-Free serve the local area which will soon host Amazon’s new 3 million square foot distribution center. Financed with credit union execution, PSRS was able to provide for its borrower a fixed seven-year term with an incredibly low-interest rate and a 30-year amortization.