Presidio Property Trust announced the refinancing of the mortgage loan on its One Park Center property in Westminster, Colorado.
The Company entered into a $6.1 million loan agreement for five years with an interest rate of 6.83%.
The loan includes interest-only payments for the first six months and no prepayment penalty.
Loan Refinancing
Company successfully completed the second office property loan refinancing in two months.
Loan Agreement Details
$6.1 million loan with a term of five years and an interest rate of 6.83%.
Management Quote
Gary Katz, Chief Investment Officer, expressed satisfaction with the refinancing efforts.
Business Diversification
Presidio Property Trust is a diversified REIT with holdings in model home, office, industrial, and retail properties.
- Presidio's ability to secure refinancing in a challenging capital markets environment showcases financial resilience.
- The refinancing demonstrates confidence in the Company's property assets and financial stability.
The successful refinancing of the One Park Center property loan reflects Presidio Property Trust's strategic financial management and commitment to optimizing its real estate portfolio.