$4,200,000 Refinance of a Self-storage Facility in Westminster, Colorado.
FINANCED Church Ranch Self-storage
Lender Type:Life Insurance Company City:Westminster, Colorado Size:663 Units Term:Long-term, non-recourse, 30-year Amortization
Kostas Kavayiotidis and Nicholas Drohan of PSRS arranged the $4.2 million refinance of a self-storage facility in Westminster, Colorado. The subject property features 663 units with great occupancy history and is in a robust market. Amenities include climate-controlled units, high ceilings, electronic gate access, and individually alarmed units. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a long-term, non-recourse loan with a 30-year amortization and flexible prepayment.
$2,840,000 Bridge Refinance of a Mixed-use Property in Moscow, Idaho.
FINANCED Moscow Mixed-use
City:Moscow, Idaho Lender Type: Private Equity Size:34,905 SF Term: 70% LTC, 55 LTV%, 18-month Interest
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David Smyle of PSRS arranged the $2.84 million bridge financing of a mixed-use property in Moscow, Idaho. The subject property is a 34,905 SF mixed-use building located in downtown Moscow, ID, which has a tight retail market and a population of 25,000. This property will be undergoing a renovation and there are letters of intent in place for a few of the building units. Financed with private equity, PSRS provided its borrower a 70% LTC, and 55% LTV loan with an 18-month interest-only term.
$1,750,000 in Acquisition Financing of a Multifamily Property in Alhambra, California.
FINANCED Alhambra Apartments
Lender Type:Life Insurance Company City:Alhambra, CA Size:15 Units Term: 32% LTV, 3+3+3 loan term, 25-year amortization
David Blain of PSRS arranged the $1.75 million acquisition financing of a multifamily property in Alhambra, California. The subject property is a two-story, 15-unit apartment building built in 1962. There are 24 parking spots in a gated ground-level garage and amenities include a swimming pool and a community laundry room. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a 32% LTV, 3+3+3 loan term, and a 25-year amortization. This deal was an inter-family transfer of property at $1.5 million, so the loan is 116% of the transfer price.
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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.
