Updated Sep 24, 2025
PSRS Secures $13.4 Million Loan For Development Site In San Diego For Multifamily Project
$13,400,000
Units
70
Asset Type
Development Site
Closing
Sep 19, 2025
About this deal
AI
The asset involved is a development site for a nine-story, 70-unit multifamily project located in San Diego. It averages 360 square feet per unit and is part of a construction financing deal. The project is set to benefit from a $13,400,000 construction loan to facilitate development costs in the San Diego market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $13,400,000
- Loan Type: Construction
- Loan Terms: Nonrecourse loan at a 75 percent loan-to-cost ratio, 24-month term with two six-month extension options
The individuals facilitating this transaction are Trevan Swierczewski and Alexander Santulis, representing PSRS- Pacific Southwest Realty Services. They successfully secured the construction financing from a debt fund, marking a significant step forward for the multifamily project in San Diego.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93