Redondo Beach Retail
$1,550,000 Retail Loan from Credit Union
City: Redondo Beach, CA
Loan amount: $1,550,000
Lender type: Credit Union
Property type: Retail
Size: 5,088 SF
Transaction description
Dave Semmer arranged a $1.55 million cash-out refinance for a 5,088-square-foot retail property along Pacific Coast Highway in Redondo Beach, California. Despite short-term lease maturities, PSRS placed the loan with a correspondent life insurance company and secured a 58% loan-to-value (LTV) loan with a fully self-amortizing 25-year term and a 25-year amortization schedule.
TRANSACTION ADVISORS
David Semmer
Principal
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Mixed-use
