Riverside Apartments
$3,500,000 Multifamily Loan from Bank
City: Riverside, CA
Loan amount: $3,500,000
Lender type: Bank
Property type: Multifamily
Size: 32 Units
Transaction description
David Sarnoff of PSRS arranged the $3.5 million cash-out refinance of a multifamily complex located in Riverside, California. The subject property is a 32-unit garden-style apartment complex originally constructed in 1980 of wood-frame construction that has been impeccably maintained with units upgraded over the years. Financed with a bank execution, PSRS was able to provide for its borrower a 10-year fixed-rate loan with a flexible 3-2-1 open prepayment structure.
TRANSACTION ADVISORS
David Sarnoff
Vice President
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