$3,650,000 Refinance of a Multifamily Property in Los Angeles, California.
FINANCED Hyperion Apartments
Property Type: Multifamily
Lender: Private Money City: Los Angeles, CA Size: 16 Units Term: Non-recourse; Interest-only
Mike Davis and Tony Messiah of PSRS arranged the $3.65 million refinance of a multifamily property in Los Angeles, California. The subject property is a 16-unit apartment building built in 1924, with private office space, on-site parking, and laundry facilities. The property is within one block from the height of Silver Lake living at Sunset Junction, surrounded by trendy retail, restaurant, and entertainment amenities. Financed with a private money lender, PSRS provided its borrower with a non-recourse, interest-only loan term.
$3,000,000 Refinance of a Medical Office Property in San Diego, California.
FINANCED Carmel Mountain Professional Park
Property Type: Medical Office
Lender: Life Insurance Company City: San Diego, CA Size: 24,245 RSF Term: 10-year loan, 30-year amortization
Jim Mulvihill and Daniel de Leon of PSRS arranged the $3 million refinance of a medical office property in San Diego, California. The subject property is a 100% occupied, multi-tenant suburban medical office building comprising four one-story buildings, totaling 24,245 square feet of rentable building area. The subject was built in 1982 and features wood-framed construction, exterior courtyard space, and landscaped walkway paths. Financed with a life insurance company, PSRS provided its borrower a non-recourse, 45% LTV loan with a 10-year term and 30-year amortization.
$5,900,000 Construction Financing for a Multifamily Property in Carson, California.
FINANCED Carson Loft Apartments
Property Type: Multifamily
Lender: Bank City: Carson, CA Size: 20 Units Term: Two-year loan, Interest-only payments
Michael Warner of PSRS arranged the $5.9 million construction financing for a multifamily property in Carson, CA. The subject property is a ground-up, 20-unit, market-rate apartment building on two parcels totaling 22,587 square feet. The subject was financed with a local bank that provided the first-time developer/borrower with 63% loan-to-cost financing with a 2-year loan term and interest-only payments.
$2,155,000 Permanent Refinance of a Multifamily Property in Imperial Beach, California.
FINANCED University Shops
Property Type: Retail
Lender: Life Insurance Company City: Riverside, CA Size: 7,250 SF Term: 5+5+5+5+5+5-year term, 30-year amortization
Mike Davis of PSRS arranged the $2.2 million acquisition financing of a retail strip center in Riverside, California. The subject property is a 7,250 SF, 100% occupied commercial strip center leased to six diverse service/restaurant/coffee tenants and was recently remodeled with a new façade and modern paint scheme. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a 5+5+5+5+5+5-year loan term with a 30-year amortization.
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.
