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NEWPORT BEACH, CALIF. — PSRS has arranged $4.8 million in refinancing for Newport Channel Inn, an independent limited-service hotel in Newport Beach. Constructed in 1962 and renovated in 2013, the hotel features 31 guest rooms.
Jacob Lee and Thomas Rudinsky of PSRS arranged the loan, which features a five-year term and a 30-year amortization schedule. A correspondent life insurance company provided the capital.