870 HILGARD APARTMENTS

Transaction description

PSRS provided financing for this 77-Unit apartment building located in Westwood, CA adjacent to UCLA with one of its correspondent life insurance companies. The 15-year term, non-recourse loan with a 30-year amortization schedule was priced at 1.70% over the 10-year treasury note. 870 Hilgard features many amenities including two elevators, gym, dry sauna, laundry, pool, BBQ and controlled access. This low leverage loan was used to pay off a maturing loan.