Goleta Apartment Village

Transaction description

PSRS provided construction financing to pay for this 266 Unit Multifamily walk-up apartment project. The luxury class A complex sits on a 13.7 acre lot and includes 18 buildings; one of which is a recreation center consisting of a leasing center, business center, clubhouse, fitness center, swimming pool, BBQ, fire-pits, and spa. The project also features 205 enclosed garages, 80 carports and 239 open parking spaces for a total of 524 spaces. The 10-year fee simple loan will amortize in 30 years.