Wind River Business Park
$3,150,000 Office Loan from Life Insurance Company
PSRS has arranged the refinance of a $3.15 million loan for an office building in Southern California. The property, known as Wind River Business Park, is a three-story office building built in 1984 that encompasses 31,000 square feet and is located in Huntington Beach, CA.
Michael Tanner and Jason Roth of the Los Angeles PSRS office arranged the recourse, full-leverage, 3-year loan with a 25-year amortization schedule. Standard Insurance provided the capital for this acquisition loan which was able to close in 45 days. Two hurdles that the team overcame was that the deal was not fully stabilized and there was low occupancy at the building.