Wilshire Boulevard
Los Angeles, CA

Investment Type: Senior Loan
Property Description: Multi-Family Refinancing
Loan Amount: $80MM

  • MRC originated a $80MM senior loan collateralized by a seven-story, fully-stabilized multi-family building within the Westwood neighborhood of Los Angeles, two mixed-use development sites in the Santa Monica section of Los Angeles, and a 307-unit multi-family complex in the Westchester section of Los Angeles.

  • The multi-family property is an 86,073 NSF, 58-unit rental building with a mix of one- and two-bedroom units, in which the Borrower has upgraded in-unit appliances, renovated the gym, and added storage units.

  • The two vacant development sites will be two mixed-use projects with ground-floor retail and 39 and 69 units respectively.

  • The multi-family asset is a 12-building, garden-style apartment complex with 120-units, and 187-units under construction in which the Borrower vacated and demolished three of the original buildings, commencing construction of three new, mid-rise apartment buildings in their place featuring co-living unit layouts.

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