Updated May 19, 2025
PSRS Arranges $10M Refinance Loan For Mercy Medical Office Building In San Diego
4060 4th Avenue
$10,000,000
$115/SF
Building Size
86,288 SF
Asset Type
Medical Office
Closing
May 16, 2025
About this deal
AI
A loan was secured for the refinancing of an 86,288 square foot medical office building located at 4060 4th Avenue in San Diego. The transaction involved a total loan amount of $10,000,000, structured as a nonrecourse, interest-only loan.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $10,000,000
- Loan Type: Refinance
- Loan Terms: Nonrecourse, interest-only
- Asset Size: 86,288 SF
- Property Address: 4060 4th Avenue
- Market: San Diego
The loan was arranged by brokers Alexander Santulis, Kevin Mulvihill, and James Mulvihill of PSRS - Pacific Southwest Realty Services. They secured the financing through a correspondent life insurance company lender on behalf of an undisclosed borrower.
Players
San Diego Medical Office Market Snapshot
Boundary boundary · Medical Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93