LA Apartment Portfolio

$6,600,000 Multifamily Loan from Bank

City: Los Angeles, CA
Loan amount: $6,600,000
Lender type: Bank
Property type: Multifamily
Size: 45 Units

Transaction description

David Sarnoff of PSRS recently arranged the cash-out refinance of a 45-unit apartment portfolio in Los Angeles, California. The portfolio includes five apartment buildings, which are all 8-10 units, two-story, class-C apartments, located on two streets within a few blocks of each other. Executed with one of our bank lenders, the loan has a 5-year term and a 30-year amortization schedule. Sarnoff placed this full 70% LTV request with a lender that required no reserves for Covid or ongoing repairs and maintenance, in order to provide the borrower with maximum proceeds.




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