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PARAMOUNT, CALIF. — PSRS has arranged $25 million in cash-out refinancing for an industrial property in the Los Angeles suburb of Paramount. Built in 1979, the property is a concrete tilt-up, 282,000-square-foot facility with 270 parking spaces.
David Semmer of PSRS provided the undisclosed borrower with a nonrecourse loan with an eight-year term and 25-year amortization schedule. The loan was financed with a life insurance company.