Cohen Financial has furnished the refinance debt placement for the parking garage, which is located at 1025 S. Laurel St. in San Diego. Encompassing 9,835 sf, the facility is operated by Ampco System Parking. The tenant here is San Diego Parking Garage.
Les Goldberg originated the three-year refinance transaction. Terms of the loan include pricing based on the one-month LIBOR, as well as a 75% LTV.
The transaction is the latest in a string of refinance deals to occur in San Diego and Southern California. Refinancing has actually become a nationwide trend over the past few quarters, as commercial property owners continue to choose this option due to the current low-interest rate environment.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
