ORANGE COUNTY, Calif., Aug. 22, 2017 /PRNewswire/ -- Keystone Mortgage Corporation, nationally recognized as a highly trusted advisor for commercial real estate financing solutions for commercial real estate investors, has delivered a lending source for the refinance of Plaza de la Paz, a 295,000 square-foot premiere shopping center destination in Orange County, California.
Working on behalf of the borrower, a local family office, the $60 million, 15-year, fixed rate loan, was sourced through one of Keystone's correspondent insurance companies. With a rate of 3.75%, Keystone successfully navigated the lender through numerous challenges, including near term lease rollover of major tenants.
"Despite retail asset headwinds in the debt market, the lending source we procured for our client is a perfect example of our proven ability to deliver competitive, long-term financing solutions on large-scale commercial real estate investments," commented Tim Winton, Senior Vice President, Keystone Mortgage Corporation. "For investors looking beyond the 7-10 year horizon, like family offices, insurance company lending is the only option for aggressive rates and flexible terms, for all asset types."
Plaza de la Paz is a prominent, multi-community retail center that serves as a primary shopping destination for residents of Laguna Beach, Laguna Niguel and Aliso Viejo, California. The center features a collection of over 45 national and regional retail destinations including; The Home Depot, Sprouts Farmers Market, CVS Pharmacy and Off Broadway Shoes.
About Keystone Mortgage Corporation
Founded in 1957, Keystone Mortgage Corporation has an established reputation for unparalleled client service and bottom-line results, with an extensive correspondent lender network, encompassing top commercial real estate lending institutions in the Nation. Keystone specializes in providing financing secured by income producing assets including industrial, office, retail, medical office, self-storage and multi-family properties. With offices located in Los Angeles and Orange County, Keystone has been nationally recognized by its correspondent relationships as a top-tiered production and loan-servicing, mortgage banking company. For more information, please visit www.keystonemortgagecorp.com.
Senior Vice President
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SOURCE Keystone Mortgage Corporation