Multifamily Continues to Garner Funds

SAN RAFAEL, CA—Five Bay Area properties were recently refinanced with loans secured by Cohen Financial. The portfolio included three multi-family properties, D Street Apartments, located at 515 D St.; Redwood Highway Apartments, located at 10-12 San Pablo Ave.; and La Brea Apartments, located at 15 La Brea Way, all in San Rafael, CA, consisting of a total of 127 units. In addition, there was a 71,720-square-foot, multi-tenant office building located at 550 15th St. and a 40-unit apartment property, 250 Taylor Street Apartments at 250-262 Taylor St., both located in San Francisco.

Cohen Financial secured a total of $39.5 million for a San Francisco-based multi-family commercial real estate owner/investor. Kenneth M. Fox, CCIM, a managing director in Cohen Financial’s San Francisco office, originated the loan to refinance the properties. The lender was Prime Finance.