Stefen Chraghchian Of Institutional Property Advisors Secures $15.85M Refinance From AXOS Bank For Pasadena Multifamily Property

The transaction involves a multifamily asset located at 380 Cordova Street in Pasadena, California, consisting of 48 units. This property has undergone a refinance process, with a significant loan amounting to $15,850,000, facilitated by AXOS Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,850,000
• Loan Type: Refinance
• Lender: AXOS Bank
• Broker: Stefen Chraghchian @Stefen_Chra) - Institutional Property Advisors - Marcus & Millichap
• Loan Terms: 1 Month SOFR + 3.75%, 12 Month Term, No Minimum Interest Requirement, No Prepay on Unit Sales and Partial Paydowns, No Exit Fee

Stefen Chraghchian of Institutional Property Advisors played a crucial role in arranging the financing for this refinance transaction, emphasizing his expertise in handling multifamily developments in the Pasadena market.