SAN ANTONIO-RBL Real Estate has secured $19.5 million in refinancing for its 190,079-square-foot McAllister Plaza. The San Francisco owner obtained a three-year, adjustable-rate bridge loan from a life insurance company close to a year after avoiding foreclosure on the asset.

The new loan for the 12-story asset at 9601 McAllister Fwy. will be used to pay for tenant improvement, to recapitalize existing debt and to cover leasing commission costs related to backfilling space that was vacated by one of the building’s primary tenants, Tesoro Petroleum Corp. Tesoro vacated more than 80,000 square feet in 2009 to move into its new headquarters building.

Holliday Fenoglio Fowler LP’s Dallas office handled negotiations for the refi, and declined to comment for this article.

The San Antonio Business Journal reported on March 3, 2010 that a foreclosure process on the asset was underway by lender Berkadia Commercial Mortgage LLC of Horsham, PA. The article also noted that RBL, in anticipation of Tesero’s departure, spent more than $4 million in improving the close to 30-year-old building. A follow up article in the publication noted that RBL renegotiated new terms for its loan with Berkadia Commercial, thus avoiding foreclosure.