Panku Secures $82M Refinancing For Cartwright Apartments In Irvine

Panku has secured an $82 million refinancing for The Cartwright Apartments, a 272-unit luxury community in Irvine, California. The loan was arranged by NorthMarq with a 5-year loan from Western & Southern Life Insurance Company. The funds will be used to retire existing debt and cover cost overruns. The property offers upscale amenities and is conveniently located near major attractions.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $82,000,000
• Units: 272
• Acres: 7.5
• Market: Irvine
• Lender: Western & Southern Life Insurance Company
• Landlord: Panku
• Brokers: Chandler Kaye, Chris Hammel & David Gahagan - NorthMarq
• Loan Type: Refinance
• Loan Terms: 5-year loan with 5 years of interest-only payments

Chandler Kaye, Chris Hammel, and David Gahagan from NorthMarq represented the parties involved in the deal.