$950,000 Industrial Loan from Life Insurance Company
Jonny Soleimani of PSRS recently arranged acquisition financing for a USC-adjacent vacant industrial building in Los Angeles, CA, with one of our correspondent Life Insurance Companies. The subject property is a 7,318 SF warehouse situated on a 0.17-acre lot in Los Angeles, CA. Built in 1950 with masonry construction, the subject property contains one 10’x10’ drive-in. The building has been vacant for approximately 6-7 months, but we were able to secure permanent financing due to an excellent new lease that both added instant value for the borrower and made our lender comfortable with this deal.