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Pershing Apartments – $2MM Refinance

Building Exterior Compass successfully closed on the $2,000,000 refinancing of a fifty-five (55) unit, Class C apartment complex comprised of one (1) one-story and one (1) three-story building.  Combined the buildings contain approximately 25,000 ± Rentable SF and are situated on a 0.24 ± Acre parcel.  The subject property was originally constructed in 1923 and 1925 and have undergone significant renovations in 1990 and 2010-2012.  Renovations included a complete interior reconstruction in 1990 and new central air conditioning in the buildings lobby and hallway areas, installation of a new fire sprinkler system, installation of wireless internet and new cabinetry, flooring and furnishing for each rental unit in 2012-2012.

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