PSRS Secures $4.5M Refinancing For Fully Leased Armstrong Industrial Property In Irvine

The property asset involved in the transaction is a fully leased industrial property located at 17632 Armstrong Avenue in Irvine. This asset has a total square footage of 32,055. The refinancing transaction was valued at $4,500,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $4,500,000
• Loan Type: Refinance
• Loan Terms: nonrecourse loan with a five-year term and 30-year amortization
• Market: Irvine
• Brokers: George Gianoukakis & Michael Tanner - PSRS- Pacific Southwest Realty Services

Michael Tanner and George Gianoukakis played a crucial role in securing the refinancing for the property through a correspondent life insurance lender. The structure of the loan is designed to offer nonrecourse features, ensuring reduced risk for the borrower.