Mayfield Park Apartments

Transaction description

Jacob Lee of PSRS arranged the $3 million refinance of a multifamily property in San Bernardino, CA. The subject property is an 83-unit, 11-building multifamily property that has a strong long-term operating history. The property is a generational asset owned by the original developer who built the property in 1966. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse, with a 10-year fixed-rate, interest-only loan with a 1% prepayment penalty.