SAN CLEMENTE SHOPPING CENTER

$16,000,000 Retail Loan from Life Insurance Company

City: San Clemente, CA
Loan amount: $16,000,000
Lender type: Life Insurance Company
Property type: Retail
Size: 47,117 SF

Transaction description

PSRS provided funding to refinance this 47,117 SF retail shopping center anchored by TJ Maxx. The property is a portion of a neighborhood shopping center nicely positioned at the intersection of a major surface street and close to Interstate 5. The building’s exterior and grounds were recently renovated in the last two years to include palm trees, white stucco and terracotta tile roofing. PSRS arranged a 30-year term with 5 years Interest Only with one of PSRS’ correspondent life companies.

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