Venice Pines Plaza

Transaction description

Mike Davis and David Sarnoff of PSRS arranged the $10.5 million refinance of a grocery-anchored shopping center in Venice, Florida. The subject property is a 98.6% occupied multi-tenant retail center anchored by a grocery store and is comprised of 97,132 SF and 23 tenants. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan with a 10-year term and 30-year amortization.