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3/11/15
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Scott Clark and Kostas Kavayiotidis, in Pacific Southwest Realty Services’ Los Angeles office, have closed a $9.5 mil loan secured by an office building located in Santa Ana, CA.
The property, Civic Center Plaza, is located on Santa Ana Blvd and was built in 1979. It contains 170.5k sf on 11 floors along with a four-story subterranean parking garage. The property services a number of municipal and Orange County tenants given its close proximity to the Federal Building, Orange County Superior Court Building, and various other government buildings.
The loan has a 10-year term with a 25-year amortization schedule and an interest rate of approximately 4%. Clark and Kavayiotidis arranged the financing through one of Pacific Southwest Realty Services’ correspondent life insurance company lenders whom they originate about $200-300 mil annually. In addition, PSRS will service the loan.
Pacific Southwest Realty Services, founded in 1972, is a servicing correspondent lender for nearly 20 life insurance companies. With four offices in Southern California and a servicing portfolio in excess of $5 Billion, PSRS can lend on all commercial property types nationwide.
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