$5,750,000 Retail Loan from Debt Fund
Michael Tanner and Jonny Soleimani of PSRS arranged the $5.75MM construction loan of a retail shopping center in Stockton, California. The loan request is for the development of the first phase of the project, which consists of three buildings totaling 22k SF. Each building has been pre-leased to 7-Eleven and Starbucks. Financed with debt fund execution, PSRS was able to secure for their client a construction loan with recourse that burned off at the completion of construction at the north of 90% LTC.