West Manchester Blvd Refi
MDJ Insurance Services, an LA based insurance company, was seeking to refinance an existing loan collateralized by two adjacent office properties located in Inglewood, CA. The property featured 3 tenants, one of which is the insurance business. The borrower was seeking to refinance an interest only private loan and move into an amortizing conventional loan so that he could pay down the mortgage principal.
StackSource Director Chris Peters was able to arrange financing from a regional bank lender that provided a rate and term refinance on the existing debt with a 6.99% interest rate fixed for 5 years amortized over 25 years.