Recent Transactions

Trevan Swierczewski, Pasha Johnson, and Daniel de Leon of PSRS arranged the $8 million refinance of a multifamily property in San Diego, California. The subject property is a Class A mid-rise apartment building totaling 31,250 rentable square feet. Built in 2014, the three-story wood-frame construction includes 33 multifamily units and 4,200 square feet of ground-floor retail space. Financed through one of our correspondent life insurance companies, PSRS secured a non-recourse loan featuring a five-year interest-only term. Highlights of the deal included a highly competitive lending environment, with approximately a dozen lenders vying for the assignment, and a swift closing timeline of under 40 days from signed application to closing, structured to meet the existing loan’s maturity date.

Grady Seldin and George Gianoukakis of PSRS arranged $4.1 million in acquisition financing for an industrial property in Decatur, Illinois. The 76,800-square-foot building, formerly a multi-tenant flex facility, had been repositioned into a fully leased, single-tenant clear-span warehouse. The property sits on seven acres and includes ample parking and lay-down space at the front and rear, supporting efficient circulation and operational flow for the tenant.

The loan was arranged on behalf of a West Coast–based investor as the upleg in a 1031 exchange. PSRS successfully coordinated with the 1031 accommodator, lender, and seller to align timing and funding for an on-time closing. While the lease had been executed, full rent commencement occurred weeks before funding. Leveraging its relationship with PSRS, the life insurance company lender underwrote to full rent with the understanding that it would be in place before closing.

Trevan Swierczewski and Pasha Johnson of PSRS arranged $7.9 million in construction financing for a multifamily project in San Diego, California. The planned development is a 32-unit mid-rise apartment complex totaling 19,500 rentable square feet. The five-story building will feature one concrete podium level topped by five floors of wood-frame construction. The project will offer a desirable unit mix of 28 one-bedroom, one-bathroom units and four two-bedroom, two-bathroom units. It will also include 1,150 square feet of ground-floor retail space intended for a food and beverage tenant. Financed through bank execution, PSRS secured a 30-month interest-only loan, floating over a 1-month term SOFR, with extension options.

Despite this being the client’s first ground-up development project, the deal drew strong market interest with over 10 competitive quotes from banks and debt funds. A local bank ultimately won the assignment thanks to its attractive pricing, comfort with the developer’s limited experience, and minimal depository requirements.