Pacific Southwest Realty Services Arranges $10M Loan Refinance In Pico-Robertson With Jonny Soleimani

A $10 million loan has been secured to refinance a special purpose property in the Pico-Robertson market. The property has a total square footage of 33,266 and is located in an undisclosed address. The loan terms include a 3.75% interest rate and a 7-year term. In addition, there is $2.35 million in additional construction money available at the same interest rate. The loan is non-recourse, providing additional security for the borrower.

Summary of transaction details

• Property Type: Special Purpose
• Transaction Amount: $10,000,000
• Market: Pico-Robertson
• Square Footage: 33,266

Jonny Soleimani of Pacific Southwest Realty Services acted as the broker for this transaction. He successfully structured the $10 million financing, which allowed the borrower to pay off two existing mortgages on the Pico-Robertson properties. By refinancing, the borrower was able to save 1.5% on one of the mortgages, taking advantage of favorable interest rates. Additionally, the deal included $2.35 million in construction money to fund future improvements or expansions. For any financing inquiries, Jonny Soleimani can be contacted at (310) 471-1998 or [email protected].