$15,000,000 Multifamily Loan from Life Insurance Company
Michael Tanner and Tony Messiah of PSRS arranged the $15 million refinance of a multifamily property in Melbourne, Florida. The subject property has a total rentable square footage of 289,175 and sits on just north of 16 acres of land. There are a total of 274 units among 32 buildings and also features 858 surface parking spaces. Financed with one of our correspondent life insurance companies, PSRS provided its borrower with a non-recourse loan with a 10-year term and 30-year amortization.