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