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PSRS Secures $5.5M Nonrecourse Loan To Refinance Ocean Business Park In Costa Mesa

Property Image
FINANCED
$5,500,000
Michael Tanner
George Gianoukakis

California

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Mixed-use96,066 SF
Financed 05/23/2025
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Property Image
FINANCED

PSRS Secures $5.5M Nonrecourse Loan To Refinance Ocean Business Park In Costa Mesa

Mixed-use96,066 SF
Financed 05/23/2025
Michael Tanner
George Gianoukakis
the dealplayerscompscontact
Contact now

Summary

Asset Type:Mixed-use
Price Per Square Foot:$57
Total Square Footage:96,066 SF
Transaction Type:Loan

The asset involved in this transaction is Ocean Business Park, a fully leased mixed-use property located in Costa Mesa. The total square footage is 96,066, and the transaction was for a refinance loan amounting to $5,500,000.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $5,500,000
  • Loan Type: Refinance
  • Loan Terms: nonrecourse, 10-year term, and 30-year amortization
  • Market: Costa Mesa

Michael Tanner and George Gianoukakis from PSRS- Pacific Southwest Realty Services arranged the loan through a correspondent life insurance company lender, highlighting their role in securing financial backing for the property refinance.

Players

Michael Tanner
PSRS- Pacific Southwest Realty Services
Michael Tanner
6 deals$86M volume(310) 440-2304
BROKER
George Gianoukakis
PSRS- Pacific Southwest Realty Services
George Gianoukakis
3 deals$48.2M volume(310) 440-2314
BROKER

Details

FINANCED
IMAGE: George Gianoukakis & Michael Tanner DATE: 05/23/2025 ADDRESS: MARKET: Costa Mesa ASSET TYPE: Mixed-use ~ SF: 96,066 BROKERS: George Gianoukakis (@Georgeg.30) & Michael Tanner - PSRS- Pacific Southwest Realty Services (@PSRSLA) LOAN AMOUNT: $5,500,000 LOAN TYPE: Refinance LOAN TERMS: nonrecourse, 10-year term and 30-year amortization NOTE: PSRS secured a $5.5M nonrecourse loan to refinance Ocean Business Park, a fully leased flex industrial property in Costa Mesa. The 10-year, 30-year amortization loan was arranged by Michael Tanner and George Gianoukakis through a correspondent life insurance company lender.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,500,000.00

Monthly NOI$36,666.67
Monthly Debt Service$34,763.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00