Meridian, Idaho — PSRS has secured a $4.6 million refinancing for Gramercy and Mason Creek Retail, two retail properties in Meridian, about 10 miles from Boise. Kostas Kavayiotidis and Jacob Lee of PSRS arranged the 65 percent loan-to-value, non-recourse loan on behalf of an undisclosed borrower. The financing features a 10-year term and 30-year amortization schedule. The properties consist of four retail buildings featuring 14 units across 27,022 square feet of space. All buildings were fully occupied at the time of financing by a mix of restaurants, local and national businesses.
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