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PSRS Arranges $14.5M Refinance Loan For Central Valley Plaza In Modesto, CA

2225 Plaza Parkway
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This Retail property located in CA received a loan of $14,500,000 5 months ago. The broker of the deal was Michael (Mike) Thorp

The Central Valley Plaza in Modesto has secured a $14.5 million 10-year loan for refinancing. The property, located at 2225 Plaza Parkway, is a retail asset anchored by Walmart and Kohl's. The loan was arranged by Michael Thorp of PSRS and secured through a life insurance company on behalf of an undisclosed borrower.

Summary of transaction details

  • Property Type: Retail
  • Loan Amount: $14,500,000
  • Loan Type: Refinance
  • Loan Terms: 10-year
  • Broker: Michael Thorp - PSRS

Michael Thorp from PSRS played a crucial role in arranging the $14.5 million loan for the Central Valley Plaza in Modesto. He worked with a life insurance company to secure the loan on behalf of an undisclosed borrower. This financing will provide the necessary funds for the property's refinancing, ensuring its continued success in the retail market.

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Deals
  • Location
    2225 Plaza Pkwy2225 Plaza Pkwy
  • Loan Value
    $14,500,000$14,500,000
  • Asset Type
    RetailRetail
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Michael (Mike) Thorp

Michael (Mike) Thorp

Deals2
Financed$26.2M

Agency

PSRS- Pacific Southwest Realty Services

PSRS- Pacific Southwest Realty Services

Agency
Deals26
Volume$591.5M

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Deal Summary

LOAN IMAGE: Michael Thorp DATE: 09/20/2023 ADDRESS: 2225 Plaza Parkway MARKET: Modesto ASSET TYPE: Retail BROKER: Michael Thorp - PSRS (@psrsla) LOAN AMOUNT: $14,500,000 LOAN TYPE: Refinance LOAN TERMS: 10-year NOTE: PSRS has arranged a $14.5 million 10-year loan for Central Valley Plaza in Modesto, anchored by Walmart and Kohl's. The loan was secured through a life insurance company for an undisclosed borrower

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2225 Plaza Parkway

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