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SAN DIEGO — PSRS has arranged $13.4 million in construction financing for the development of a multifamily complex in San Diego. The nine-story development will offer 70 apartments, including 69 studios and a one-bedroom/one-bath unit, with an average unit size of approximately 360 square feet. Financed through a debt fund, Trevan Swierczewski and Alexander Santulis of PSRS secured a nonrecourse loan at a 75 percent loan-to-cost ratio, with a 24-month term and two six-month extension options.