Q10 | Westcap arranged a 15-year fixed term nonrecourse loan with a fixed rate of sub 3.75% through one of our life company correspondents for a newly completed 23-unit luxury multifamily building in Beverly Hills, California. Secondary financing is allowed for the borrower throughout the entire loan term. The loan application was signed and the rate was locked prior to any signed leases and the requirement to fund was based on 30% occupancy.