Wilmington Plaza

$13,250,000 Retail Loan from Life Insurance Company

City: Wilmington, CA
Loan amount: $13,250,000
Lender type: Life Insurance Company
Property type: Retail
Size: 64,222 SF

Transaction description

Michael Thorp and Ari Zeen of PSRS arranged the $13.25 million refinance of a retail plaza in Wilmington, California. Located along a busy section of Pacific Coast Highway just east of the 101 freeway, Wilmington Plaza is 64,222 SF of retail space anchored by a Northgate Gonzalez Market and additional tenants including a CVS Pharmacy and Chase Bank. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan, with a five-year term and a 30-year amortization along with proceeds in cash-out.

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