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SRS Secures $6.5M Acquisition Loan for Mimi’s Plaza in Tustin, California

Mimis-Plaza-Tustin-CA

Mimi’s Plaza in Tustin, Calif., features 30,795 square feet of retail space.

TUSTIN, CALIF. — SRS Real Estate Partners has secured a $6.5 million loan for the purchase of Mimi’s Plaza, a retail center located at 13911, 13931 and 13951 Carroll Way in Tustin.

Built in 1990 and situated on 2.4 acres, the three-building property features 30,795 square feet of retail space. At the time of financing, the property was fully occupied.

Ben Townsend and Matt Marlin of SRS’s Debt & Equity team structured the non-recourse, five-year loan on behalf of an out-of-state private investor. The loan features a 4.65 percent fixed interest rate and a 30-year amortization.

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