Pointe West Plaza

$3,725,000 Retail Loan from Life Insurance Company

City: San Ramon, CA
Loan amount: $3,725,000
Lender type: Life Insurance Company
Property type: Retail
Size: 16,921 SF GLA

Transaction description

Jonny Soleimani and Matthew Farzinpour of PSRS arranged the $3.725 million permanent financing of a retail property located in San Ramon, California, a transaction PSRS also arranged bridge acquisition financing for prior to year-end 2023. The subject property is a multi-tenant retail center consisting of 16,921 square feet of GLA constructed in 1990 and situated on 0.83 acres. The property contains a mix of tenants such as a billiards venue, salon, bistro, and Chinese restaurant, and provides ample underground and surface parking, totaling 82 spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower just over 65% of the purchase price, taking out the bridge debt, on a five-year loan term and a 25-year amortization.

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