$1,900,000 Mixed-use Loan from Life Insurance Company
Michael Warner of PSRS arranged the $1.9 million acquisition financing of a mixed-use property in Santa Monica, California. The subject property is a mixed-use property in prime Santa Monica along Wilshire Boulevard. The ground floor is 4,000 SF of commercial retail space while there are four residential townhouses each with 2 bed, 2.5 baths above. Closed in 55 days and financed with one of our correspondent life insurance companies, PSRS provided its borrower a 5+5-year loan term with a 30-year amortization.