$15,000,000 Refinance of a Multifamily Property in Melbourne, Florida.
FINANCED Harvard Apartments
Property Type:Multifamily City:Melbourne, Florida Size:274 Units Term:10-year term, 30-year amortization
Michael Tanner and Tony Messiah of PSRS arranged the $15 million refinance of a multifamily property in Melbourne, Florida. The subject property has a total rentable square footage of 289,175 and sits on just north of 16 acres of land. There are a total of 274 units among 32 buildings and also features 858 surface parking spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a non-recourse loan with a 10-year term and 30-year amortization.
$4,100,000 Refinance of a Medical Office Property in Chandler, Arizona.
FINANCED Dobson Center
Lender:Life Insurance Company City:Chandler, Arizona Size:42,000 SF Term:Full-term, interest-only over a 5-year loan term.
Pasha Johnson and Daniel de Leon of PSRS arranged $4,100,000 in financing for a 42,000-square-foot state-of-the-art medical office property located in Chandler, Arizona. The refinance was placed with one of PSRS’s correspondent life insurance companies and features full-term interest-only payments over a 5-year loan term. The borrower’s liability was limited to non-recourse carve-outs.
$2,000,000 Refinance of a Retail Shopping Center in Studio City, California.
FINANCED Ridgemoor Square Shopping Center
Lender:Life Insurance Company City:Studio City, CA Size:12,083 SF Term:10-year loan term; 30-year amortization
Michael S. Tanner and Tony Messiah of PSRS arranged the $2 million refinance of a retail shopping center in Studio City, California. The subject property is a 12,083-square-foot strip retail center built in 1987 with 35 parking spaces. The subject is in the heart of Studio City just 1.7 miles west of Universal Studios Hollywood. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a non-recourse loan with a 10-year term and 30-year amortization.
$9,600,000 Refinance of a Mixed-Use Property in Pasadena, California.
FINANCED Renaissance Court
Lender:Life Insurance Company City:Pasadena, CA Size:41 Units Term:10-year loan term; 30-year amortization
Kostas Kavayiotidis of PSRS arranged the $9.6 million refinance of a mixed-use property in Pasadena, California. The subject property is a 41-unit apartment complex over ground-floor retail in the heart of Pasadena. The unit mix breakdown includes 10 1-bed units, one 2-bed unit, 20 2-bed townhomes, 10 live/work units, and nine ground-level retail units. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a non-recourse loan with a 10-year term and 30-year amortization.
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About PSRS Founded in 1972, PSRS is a commercial mortgage banking firm that helps real estate investors of all sizes structure and secure financing solutions that align with their investment goals.
