Village Square

$13,500,000 Multi-Tenant Retail Loan from Life Insurance Company

City: Bell Gardens, CA
Loan amount: $13,500,000
Lender type: Life Insurance Company
Property type: Multi-Tenant Retail
Size: 80,787 SF

Transaction description

PSRS placed a non-recourse loan with one of its correspondent life insurance companies for this multi-tenant anchored retail in Bell Gardens, CA.   Village Square was originally built in 2006 in a partnership between the City of Bell Gardens and Primestor. It is currently 100% leased to 7 tenants, including Ross and Marshalls, both of which are performing above their national averages. The funds for the loan were used to pay off a maturing loan.  PSRS had previously done a deal with the borrower to purchase the fee-interest in a bridge loan on the property.

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