$7,000,000 Retail Loan from Life Insurance Company
Michael Tanner and Jonny Soleimani of PSRS arranged the $7MM refinance of a multi-tenant retail property in Las Vegas, Nevada. Built in 2007, the subject property is composed of 23 units totaling 63K square feet. Financed with one of our correspondent life insurance companies, PSRS was able to secure for their client a non-recourse, 10-year term with a 30-year amortization. A highlight of this transaction was that there were little to no collection issues during the ongoing COVID-19 pandemic.