Zachary Novatt And Max B. Mellman Secure $46 Million Refinance For 160-Unit Community In San Bernardino

The transaction involved a 160-unit multifamily community located in San Bernardino, CA, encompassing a total square footage of 220,211. The property was successfully refinanced through a permanent cash-out refinance totaling $46,000,000, under a structured financing solution that offered a long-term, non-recourse debt option aimed at enhancing the cash flow and unlocking equity for future investment strategies.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $46,000,000
• Loan Type: Perm Cash-Out Refinance
• Loan Terms: 77% LTC; Cash-Out LTC; 5.73% Interest Rate; 5 Year IO Term; Non-Recourse
• Broker: Zachary Novatt & Max B. Mellman - Max Benjamin Partners
• Date: 07/06/2026

This refinancing was facilitated by brokers Zachary Novatt and Max B. Mellman from Max Benjamin Partners. The financing strategy was meticulous, ensuring that maximum proceeds were achieved while also delivering the necessary execution certainty. The process was designed to support continued value creation for the borrower, optimizing the financial structure for the next phases of their investment plan.