Thousand Palms Industrial

Transaction description

Jonny Soleimani and Thomas Rudinsky of PSRS arranged the $1.62 million refinance of an industrial property in Thousand Palms, California. The subject property is an 18,672 SF multi-tenant industrial building sitting on 1.26 acres of land. Built in 1990 with reinforced concrete, there are a total of 11 suites and 40 surface parking spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a three-year loan term with a 25-year amortization and a hybrid prepayment penalty.