Jacob Lee of PSRS arranged the $1,995,000 refinance of a multifamily property located in Los Angeles, California. The subject property consists of a 10-unit apartment community well-situated only a short walk to the Crenshaw/Expo Metro line. The property consists of one two-story, 5,760 SF building that houses 8 units. There are two additional ADUs alongside the south side of the building that adds two studio units making up 1,500 SF. Financed with bank execution, PSRS provided its borrower with a non-recourse loan, at 70% LTV with the ability to pull out additional equity in the future.

Michael Tanner and Tony Messiah of PSRS arranged the $18.1 million refinance of a mobile home park community in Santa Maria, California. The subject property is a 39.14-acre mobile home park built in 1973 with a current occupancy rate of 99.57%. The community contains 250 pads and mobile homes. Upon acquisition, the borrower will have full ownership of 236 pads on a leasehold collecting pad rent with the remaining 14 lots already owned by outside parties. Financed with life insurance execution, PSRS provided its borrower a non-recourse loan, with a 5-year term and 30-year amortization.

Trevan Swierczewski of PSRS arranged the $3,000,000 cash-out refinance of an industrial property located in Whittier, California. The subject property is a 56,530 SF multi-tenant industrial park comprised of four meticulously maintained buildings constructed in 1986. The property features 30 suites occupied by a variety of industrial manufacturing and service provider tenants. Financed with bank execution, PSRS provided its borrower a 7-year fixed-rate, non-recourse loan with 24 months of interest-only followed by a 25-year amortization. In a rising interest rate environment, PSRS secured a competitive rate of 4.50% and gave the borrower flexibility with no prepayment penalty during the loan term.

Michael Tanner and Tony Messiah of PSRS arranged the $9.7 million refinance of a mobile home park community in Oceanside, California. The subject property is a 108-unit mobile home park community that is 98% occupied and features a community club house, pool, and jacuzzi. The mobile homes are double-wide and feature private backyards. There is a joined parcel of a gas station that is adjacent to the mobile home park. Financed with one of our correspondent life insurance companies, PSRS provided its borrower a non-recourse loan, with a 10-year term and 30-year amortization.