therealdeal.com
3 months agoDeveloper Panku Scores $82M Refinance on Irvine Apartments
Real estate firm Panku has refinanced an apartment complex in Irvine with an $82 million loan from Western & Southern Life Assurance.
The loan was used to pay off outstanding debt and reimburse cost overruns for the project.
Insurance companies are becoming one of the few lenders willing to provide debt for multifamily projects. [ more ]