Phoenix Commerce Center

Transaction description

Kostas Kavayiotidis and Jacob Lee of PSRS arranged the $6 million refinance of a six-building industrial center in Phoenix, Arizona. The subject property is a grouping of industrial warehouses that total 131,000 square feet. Executed with one of our correspondent life insurance company lenders, this loan was a non-recourse, fixed-rate, 20-year term and a 20-year amortization. This is a unique loan product that gives the borrower a fixed rate throughout the life of the loan and ends with the property free & clear.