$7,000,000 Industrial Loan from Life Insurance Company
City: Pacoima, CA
Loan amount: $7,000,000
Lender type: Life Insurance Company
Property type: Industrial
Size: 113,500 SF
Mike Davis and David Sarnoff of PSRS arranged the $7 million cash-out refinance of an industrial property in Pacoima, California. The subject property is a 113,500 SF industrial distribution building built in 1979 and has recently undergone renovations. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan with a 10-year interest-only term.