San Bernardino Retail

Transaction description

Jonny Soleimani and Garrett Carter of PSRS arranged $11.7M in acquisition financing for a 2014-built, 66,713-square-foot multi-tenant retail plaza in San Bernardino, California. Situated on a 12.62-acre parcel, the 26-suite, gym-anchored center benefits from prominent frontage and low coverage density in a key Inland Empire trade area. Already ~60% leased, the borrower’s value-add plan contemplates using excess land in addition to continued lease-up and rental increases. Sourced through a regional bank partner, PSRS structured a 70% loan-to-value (LTV) capital solution with a two-year interest-only term under 6.75% and a built-in extension option, giving the borrower near-term operational runway and balance sheet agility.