La Jolla Villas

Transaction description

Ricky Giancola and Trevan Swierczewski of PSRS arranged the $6 million cash-out refinance of a multifamily property in Brawley, CA. The subject property is a 110-unit garden-style apartment building built in 1990 and consists of nine two-story buildings. Amenities include air conditioning, a playground, on-site maintenance, and a pool area. Financed with credit union execution, PSRS facilitated a 9-month rate lock to capture rates from 2021 and provide its borrower a 10-year loan term with an interest rate in the low 3s.