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CARSON, CALIF. — PSRS has arranged $5.9 million in construction financing for Carson Loft Apartments, a multifamily project in Carson, a suburb south of Los Angeles.
The community will feature 20 market-rate apartments spread across two parcels totaling 22,587 square feet.
Michael Warner of PSRS secured the two-year loan with a 63 percent loan-to-cost ratio and interest-only payments. The borrower is a first-time developer/borrower, and a local bank provided the funds.