CULVER CITY, CALIF. — JLL Capital Markets has arranged a $58 million construction takeout loan for Helio Group. The loan was funded by Canyon Partners Real Estate and will be used to refinance existing debt used to develop Arya Apartments in Culver City. Arya is one of five multifamily projects Helio has developed in the greater Culver City submarket since 2018.
The property features 38 studios, 36 one-bedrooms and 45 two-bedrooms, all of which feature smart-home technology. Asking rents on floor plans available as of late August range from $2,995 for a studio to $6,695 for a two-bedroom, according to the property’s website.
Amenities include a penthouse-level fitness center, a rooftop space with barbecue areas, a coworking lounge with a conference room, electric vehicle charging stations and a to-be-built rooftop pool.
JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Jeff Sause, Director Chad Morgan, Associate Jacob Michael and Analyst Danny Ryan.