Collectors Universe, Inc., the parent company of PSA and PSA/DNA has obtained a $3.5 million five-year loan to help fund a new corporate headquarters in southern California.
CU says it’s entered into an agreement with California Bank & Trust, for the loan, part of which will also be used for general corporate purposes.
The building will be located at 1610 East St. Andrews Place in Santa Ana, about five minutes from the company’s current headquarters.
CEO Robert Deuster says the company expects to move into the facility later this year. He says it’s “being custom built to support our growth over the next decade and we are taking the opportunity to upgrade related infrastructure at the same time.”
Deuster says the loan allows CU the flexibility to draw down funds for up to twelve months, at which time the loan becomes fixed and is repayable on a monthly basis over 48 months.
The loan is in addition to the $10 million line of credit the company obtained from California Bank & Trust earlier in the year.
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