Vintage Crossing Apartments
$14,000,000 Multifamily Loan from Life Insurance Company
PSRS has arranged the refinance of a $14 million loan for a multifamily apartment complex in Canoga Park. The property, known as Vintage Crossing, is a 161-unit, mid-rise, Class B apartment building that was constructed in 2000. Located in Canoga Park, the property contains all one-bedroom units that average 591 square feet.
Michael Tanner and Jason Roth of the Los Angeles PSRS office arranged the non-recourse, full-leverage, 20-year loan with a 30-year amortization schedule. Mutual of Omaha provided the capital for this loan.