San Diego Retail Center

Transaction description

Jim Mulvihill and Kevin Mulvihill of PSRS arranged the $5.6 million refinance of a 33,971-square-foot neighborhood retail center in San Diego, California. Built in 1979, the well-leased property features a strong mix of local tenants that serve a stable surrounding community. Financed through one of PSRS’s correspondent life insurance company lenders, the cash-out refinance retired existing debt and provided the borrower with additional flexibility through an option to extend the loan term.