PSRS Secures $9.2M Refinancing For Historic Office Building In Santa Barbara

The Julia, a historic office building in Santa Barbara, has a square footage of 40,000 and is located at 924 Anacapa Street. The property was originally designed by Julia Morgan and underwent conversion to office use in the 1970s. Recently, it was secured for refinancing at a loan amount of $9,200,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $9,200,000
• Loan Type: Refinance
• Loan Terms: 25-year amortizing term with rate resets every five years
• Market: Santa Barbara
• Brokers: Seth Ludwick & Thomas Rudinsky - PSRS

PSRS arranged the refinancing for The Julia through a correspondent life insurance partner. This arrangement highlights the role of Seth Ludwick and Thomas Rudinsky in facilitating the loan process for this historic asset.