$2,400,000 Refinance for a Multifamily Property in The Bronx, New York.
FINANCED College Ave Apartments
Lender:Life Insurance Company City:The Bronx, New York Size:10 Units Term:5-year term; 30-year amortization
Matthew Farzinpour of PSRS arranged a $2.4 million refinance for a multifamily property in The Bronx, New York. The property, which consists of ten residential units, underwent a complete renovation in 2024. Financed through one of our correspondent life insurance companies, the loan features a five-year term, 30-year amortization, and five five-year extension options.
$6,300,000 Acquisition Financing for a Mixed-Use Property in Goleta, California.
FINANCED Storke Retail
Lender:Life Insurance Company City:Goleta, California Size:32,500 SF Term:3-year term; 25-year amortization
Seth Ludwick and Thomas Rudinsky of PSRS arranged $6.3 million in acquisition financing for a 32,500-square-foot mixed-use property in Goleta, California. The property, which includes retail and office space, features tenants such as Chipotle, a barbershop, and a pizza parlor. Financed through one of our correspondent life insurance companies, the loan provided the borrower with a sub-6% interest rate, a three-year term, and a 25-year amortization. At closing, the property had more than 20% vacancy.
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.
