$5,175,000 Multifamily Loan from Life Insurance Company
Grady Seldin of PSRS recently arranged non-recourse financing for a 36-unit multifamily property in Downey, located in Southeast Los Angeles County. The loan was originated by one of our correspondent life insurance company lenders on a 10/30 schedule. This asset achieved the best pricing and terms given its steady occupancy history and operational performance. Grady worked diligently with all parties to smoothly close two additional loans on the same morning with the same borrower. This property was provided a $5,175,000 refinance loan with one year of interest only.