PSRS Arranges $9.6M Refinancing for Renaissance Court Mixed-Use Property in Pasadena, California

PASADENA, CALIF. — PSRS has arranged the a $9.6 million loan to refinance debt on Renaissance Court, a mixed-use community in Pasadena, just northeast of Los Angeles. 

Renaissance Court offers 41 multifamily units, including one- and two-bedroom apartments and two-bedroom townhomes. The property also includes nine ground-level retail units. 

Kostas Kavayiotidis arranged the non-recourse loan through a life insurance company. The financing features a 10-year term and 30-year amortization.