Part of a $20 Million Portfolio Multifamily Loan from Life Insurance Company
The Brentwood Park Apartments was one of four properties in a portfolio closed with a pair of PSRS’s correspondent life insurance companies. The long-term nature of the loans allowed the borrower to lock-in historically low rates upon signing the application. The loans also provide for an additional funding should any additional proceeds be needed over the life of the 20yr fixed rate loan. One item the borrower preferred over the previous bank financing was PSRS’ capacity as the loan servicer to handle matters on their behalf during the course of the loan.