Pointe West Plaza

$3,700,000 Retail Loan from Debt Fund

City: San Ramon, CA
Loan amount: $3,700,000
Lender type: Debt Fund
Property type: Retail
Size: 16,921 SF GLA

Transaction description

Jonny Soleimani and Matthew Farzinpour of PSRS arranged the $3.7 million bridge financing of a retail property located in San Ramon, California. 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 a Chinese restaurant, and provides ample underground and surface parking, totaling 82 spaces. Financed with a debt fund, PSRS allowed its borrower to complete this 1031 exchange as needed before year-end. The 12-month loan term with no prepayment penalty allows the borrower to close promptly while providing an easy transition into permanent financing.

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