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SAN FRANCISCO – Johnson Capital has arranged $50 million in financing secured by the 414-unit South Beach Marina Apartments in Downtown San Francisco. The non-recourse debt, which boasts a fixed interest rate and a 10-year term, was used to refinance tax-exempt bonds. Principal Life Insurance provided the loan for the complex, which is owned by a pension fund. Financing was arranged by Brent Lister and Eric Salveson, senior vice presidents out of Johnson Capital's Los Angeles office.