PSRS Secures $6M in Refinancing for Fast Food Retail Strip in Culver City
CULVER CITY, CALIF. — PSRS has closed $6 million in refinancing for Robertson Plaza, a multi-tenant strip retail property located in Culver City.
Mike Davis of PSRS arranged the non-recourse, 10-year loan, which features a 30-year amortization schedule, with a life insurance company. The borrower was a private real estate investor.
Eighteen tenants occupy the property, which was built in 1984.
Over the last 10 years, the property has maintained more than 95 percent occupancy.