San Antonio Office

Transaction description

Grady Seldin and Nathan Toomey of PSRS arranged $1.9 million in acquisition financing for a 40,672-square-foot office building in San Antonio, Texas. Situated on a 2.27-acre lot, the 27-unit property features a steady operating history, a granular rent roll, extensive parking infrastructure, and a value-add opportunity for the borrower to modernize both the aesthetics and the management. PSRS sourced the loan through one of its correspondent life insurance companies, leveraging the repeat borrower-lender relationship to achieve maximum proceeds, work around international travel schedules for the signatories, and close in line with the PSA deadline. The execution provides both long-term balance sheet protection through a fully amortizing structure and flexibility through rate reset periods over the term.