Vallejo Apartments

Transaction description

David Sarnoff of PSRS arranged the $6 million cash-out refinance of an apartment property located in Vallejo, CA. The property features 68 units spread across 15 buildings on a 3.65-acre site. Executed with one of our bank lenders, this loan was non-recourse with a 10-year term and full-term interest-only and no reserves. The low leverage transaction ultimately closed with a sub-3% interest rate.