Tony Messiah Of Pacific Southwest Realty Services Secures $24M Refinance For Retail Asset In San Diego
701 5th Avenue
$24,000,000
$439/SF
Building Size
54,650 SF
Asset Type
Retail
Closing
May 21, 2026
AI
A refinance transaction was secured for a retail asset located at 701 5th Avenue in San Diego, CA. The property spans 54,650 square feet and is situated in the Gaslamp Quarter. The loan amount was $24,000,000, with terms structured as a five-year duration and a 25-year amortization schedule.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24,000,000
- Loan Type: Refinance
- Loan Terms: Five-year term with a 25-year amortization
- Address: 701 5th Avenue
- Market: San Diego, CA
- Asset Size: 54,650 square feet
- Broker: Tony Messiah - Pacific Southwest Realty Services (PSRS)
Tony Messiah, representing Pacific Southwest Realty Services, arranged the refinancing through one of the firm's correspondent life insurance lenders. This deal provides stabilized financing for the historic downtown retail property.
Avenue Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93