Van Tilburg Building

$10,000,000 Office/Retail Loan from Life Insurance Company

City: Santa Monica, CA
Loan amount: $10,000,000
Lender type: Life Insurance Company
Property type: Office/Retail
Size: 26,102 SF

Transaction description

PSRS placed a long term, non-recourse loan with one of its correspondent life insurance companies on a mixed-use building in Santa Monica, CA.  The transaction was very modest leverage and the life company provided a very low interest rate, flexibility in the prepayment penalty, and multiple years of interest-only payments.

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