Parkway Plaza

Transaction description

David Smyle and Daniel de Leon of PSRS arranged the $6.5 million permanent refinance of a multifamily property in La Mesa, California. The subject property is a 65-unit apartment complex offering studio, one-, two-, and three-bedroom floor plans. Amenities include a swimming pool, a sun deck, a laundry room, and on-site management. Financed with bank execution, PSRS provided its borrower with a non-recourse, 30% LTV loan with a seven-year term and 30-year amortization.