La Habra Apartments
$9,000,000 Non-Recourse Refinance of a Multifamily Property
Kostas Kavayiotidis and Jacob Lee of PSRS arranged the $9MM non-recourse refinance of a multifamily property in La Habra, California. The subject property is a garden-style apartment complex containing 142 units spanning nine 1, 2, & 3-story apartment buildings. Common area amenities include three pools, a spa, a playground, a dog park, and two laundry rooms. Financed with one of our correspondent life insurance companies, PSRS was able to forward rate lock for its borrower a 10-year full-term interest-only loan with an interest rate in the mid-2’s.