Promenade Office Park
$7,100,000 Office Loan from Life Insurance Company
City: Westlake Village, CA
Lender type: Life Insurance Company
Property type: Office
Size: 74,000 SF
Grady Seldin of PSRS arranged the $7.1M refinance of a 74K SF multi-tenant office building in Westlake Village, CA. PSRS rate locked this deal the last week of March 2020 right as the COVID stay-at-home orders were implemented and days before lenders raised rates drastically in response to Corporate Bond yields blowing out. Throughout the process, PSRS was able to navigate various speedbumps stemming from COVID concerns and closed the refinance as initially quoted by the Life Company lender.