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LOS ANGELES — PSRS has arranged a $7.6 million cash-out refinance of a two-story retail center in Los Angeles. The name of the borrower was not released.
William DeFanti of PSRS secured the refinancing, which features a 4.45 percent interest rate, five-year term and two years of interest-only payments followed by a 30-year amortization.
The subject property is a walk-up retail center with 17 suites.