Venice Pines Plaza

$10,500,000 Retail Loan from Life Insurance Company

City: Venice, FL
Loan amount: $10,500,000
Lender type: Life Insurance Company
Property type: Retail
Size: 97,132 SF

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.

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