PPM America Provides $21 Million Refinance For 213-Unit Multifamily Property In Novato, CA

A refinancing transaction occurred involving a 213-unit multifamily property in Novato, California. This asset is distinctive in the Northern California market, reflecting ongoing lender demand for multifamily properties in the region.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Lender: PPM America
• Broker: Jeff Glenn - Slatt Capital
• Loan Type: Refinance
• Loan Terms: 10-year term with a 30-year amortization schedule

Jeff Glenn of Slatt Capital arranged the non-recourse permanent refinancing for the property, providing long-term fixed-rate financing for the stabilized asset. This arrangement demonstrates the active involvement of Slatt Capital in facilitating financing solutions for multifamily developments in Novato.