FULLERTON, Calif. — PSRS has arranged the $11 million refinance of Sunny Hills Business Park, a mixed-use property located in Fullerton. The borrower is a private investor who acquired the property in 2017.
Sunny Hills Business Park is a large industrial/flex and office business park comprised of nine buildings built in 1981. The property offers a total of 176,475 rentable square feet, comprised of one and two-story buildings. The property is situated on 10.35 acres with signalized access to Imperial Highway, connecting the property to the surrounding cities of Orange County.
The property is currently 95% leased to a diverse mix of tenants, including medical, dental, engineering, education, and fitness uses. The property features ample parking, flexible floor plans, and attractive landscaping.
PSRS secured a non-recourse, 10-year loan term and a 30-year amortization for the borrower. The lender is one of PSRS’s correspondent life insurance companies, which offers competitive rates and terms for commercial real estate loans.
Kostas Kavayiotidis and Matthew Farzinpour of PSRS arranged the financing for the borrower.
“This was a great opportunity to refinance a well-located and well-maintained property with a strong tenant base,” said Kavayiotidis. “We were able to provide our client with a long-term, fixed-rate loan that met their objectives and expectations.”
PSRS is one of the largest privately held commercial mortgage banking firms in the Western United States. The company has been in business since 1972 and has offices in Los Angeles, Irvine, San Diego, San Francisco, and Phoenix.