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PSRS Secures $4.5M Refinancing For Fully Leased Armstrong Industrial Property In Irvine
FINANCED
$4,500,000
California
See Similar DealsIndustrial32,055 SF
Financed 05/19/2025
FINANCED
PSRS Secures $4.5M Refinancing For Fully Leased Armstrong Industrial Property In Irvine
17632 Armstrong Avenue
See Similar DealsIndustrial32,055 SF
Financed 05/19/2025
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$140
Total Square Footage:32,055 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,500,000.00
Monthly NOI$30,000.00
Monthly Debt Service$28,443.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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