New Apartment Build Secures $126M Refi

Cusumano Real Estate Group has secured a $126.5 million loan to refinance the Talaria at Burbank, a new construction luxury apartment building. PGIM funded the non-recourse loan, which has a 10-year term and seven years of interest only payments.

Located at 3401-3425 W. Olive Avenue in Burbank, the property was built in February 2019. It has 241 units and a Whole Foods. The units include one-, two- and three-bedroom floor plans.

Tom Kenny, an executive vice president of Bellwether Enterprise in the Irvine office, secured the funding on behalf of the borrower.