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SAN BERNARDINO, CALIF. — PSRS has arranged $11.7 million in acquisition financing for a multi-tenant retail center in San Bernardino. Jonny Soleimani and Garrett Carter of PSRS secured the loan, which was structured with a 70 percent loan-to-value ratio, a two-year interest-only term and a built-in extension option, through a regional bank The borrower was undisclosed.
Situated on 12.6 acres, the 66,713-square-foot property features 26 retail suites, including a gym anchor. Built in 2014, the property was 60 percent leased at the time of loan closing.