South Pasadena Mixed-Use

Transaction description

Michael Tanner and David Sarnoff of PSRS arranged the $3.6 million refinance of a mixed-use building in South Pasadena, California. The 21,495-square-foot, three-story property features ground-floor retail and restaurant tenants, with two upper floors of creative and professional office space. The building offers smaller, bespoke office suites ranging from 400 to 3,000 square feet. Financed through CMBS execution, PSRS secured a five-year, interest-only loan for the borrower.