$9,500,000 Office Loan from Life Insurance Company
Michael Tanner and Jonny Soleimani of PSRS arranged the $9.5MM refinance of a multi-tenant office building in Santa Monica, California. The subject property is a 20,648 SF, three-story office building built in 1982 with masonry construction on a 0.23-acre lot. The building contains a total of 26 subterranean parking spaces. The building is fully occupied by different entities associated with UCLA. Financed with one of our correspondent life insurance companies, PSRS was able to secure for their client a non-recourse, 10-year term with a 30-year amortization.