WELD BLVD INDUSTRIAL

$11,000,000 Multi‐Tenant Industrial Loan from Life Insurance Company

City: El Cajon, CA
Loan amount: $11,000,000
Lender type: Life Insurance Company
Property type: Multi‐Tenant Industrial
Size: 152,163 SF

Transaction description

This multi‐tenant industrial building, located on Weld Boulevard in El Cajon (near San Diego), CA, was in transition from an owner user to be leased out on a multi‐building basis and needed a lot of improvements.  PSRS leveraged it’s good relationship with the one of their correspondent lenders to finance the complex by getting them comfortable with funding the loan prior to occupancy of the new tenants.   The lender provided a term of 10 on a 25‐year amortization at a rate of 4.32% interest rate, for PSRS’ repeat borrower.

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