Kiddie Academy Preschool

Transaction description

Paul Godfrey of PSRS arranged the $5.04 million permanent financing of Kiddie Academy Preschool in Rancho Cucamonga, California. The subject property is a new, single-tenant daycare facility. Financed with credit union execution, PSRS provided its borrower a 70% LTV, five-year loan term with a 30-year amortization, and no prepayment penalty. The loan provided a locked rate in March with the lender holding the rate beyond 90 days because they valued building a new relationship with the broker and borrower.