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IRVINE, CALIF. — PSRS has arranged $4.5 million in refinancing for Armstrong Industrial in Irvine. The fully occupied, 32,055-square-foot industrial property is located within the Irvine Business District. Michael Tanner and George Gianoukakis of PSRS secured the financing through one of PSRS’ correspondent life insurance companies. The nonrecourse loan features a five-year term and 30-year amortization.