$13,100,000 Mixed-Use Loan from Agency
Pasha Johnson of PSRS recently arranged a $13.1M loan for a mixed-use building in San Diego, California. The project is composed of 48 multifamily units with contemporary unit designs and finishes over ground floor commercial space. The non-recourse loan was able to maximize cash flow by capitalizing on the low-interest-rate environment coupled with interest-only payments. Underwriting to an interest rate in the 2’s allowed for increased leverage from improved debt service coverage.