Borrower was looking for a combination construction loan that rolled into permanent financing and locked in at historically low rate:
- 200 unit development in Southern California
- Rate locked at application and fixed for 30 years
- 65% LTV
- Non-Recourse at stabilization
- Life Insurance Company
- 1.20 DCR
Loan Amount: $70,000,000
Loan Type: Construction/Perm Loan - Apartments
Loan Location: Southern California