Pacific Southwest Realty Services (PSRS) Secures $6M Refinance Loan For Mixed-Use Property In Los Angeles

A mixed-use property located in Los Angeles, CA has recently undergone a refinancing transaction. The property spans a total of 58,138 square feet and encompasses various types of use such as residential and commercial spaces.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $6,000,000

The refinancing loan, totaling $6,000,000, was arranged by Jonny Soleimani from Pacific Southwest Realty Services (PSRS). The loan features a 5-year term with a 30-year amortization schedule. The initial funding carries an interest rate of 4.875%. Additionally, the borrower has the option to utilize a revolving line of credit and refinance it into a second Deed of Trust (DoT) with cash-out once certain pre-negotiated net operating income (NOI) checkpoints are achieved.

During the transaction, it was noted that approximately 40% of the tenants in the commercial spaces were on a month-to-month lease. Furthermore, several tenants residing in the residential units chose to vacate the property during escrow. For any financing needs, Jonny Soleimani can be contacted at 310-740-0641 or via email at [email protected].