LOS ANGELES — Cronheim Mortgage has arranged $56 million in permanent financing for a three-property portfolio in Los Angeles. Andrew Stewart and Allison Villamagna of Cronheim secured the financing on behalf of the borrower, 4SITE Real Estate. Cronheim arranged $37 million, $10.9 million and $8.1 million in financing for the properties, respectively. The portfolio includes Barranca Los Angeles, 4Mica Apartments and Arroyo Los Angeles. Barranca Los Angeles totals 200 apartment units and offers amenities such as a pool, spa, gym, yoga studio, workspaces, outdoor garden terrace and BBQ area. 4Mica …
ANAHEIM, CALIF. — Marcus & Millichap has arranged the sale of Chateau de Ville, a 254-unit community in Anaheim. The asset traded hands for $79 million. Chateau de Ville was built in 1970 on a 9-acre site. The controlled-access property comprises 21 buildings and offers one- and two-bedroom floor plans. Amenities include a pool, clubhouse and fitness center. Tyler Leeson and Matt Kipp of Marcus & Millichap’s Orange County office represented the seller, a long-term partnership, and procured the buyer, a private investor.
LOS ANGELES — JLL Capital Markets has arranged $5.5 million in permanent, non-LIHTC Forward financing for Alvarado Apartments and Temple Apartments, two affordable housing complexes in Los Angeles. JLL worked on behalf of the borrower, Brilliant Corners, to secure the 15-year loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital. Anson Snyder led the JLL Capital Markets Debt Advisory team. Alvarado Apartments is located at 916 N. Alvarado Street and comprises 24 units. The 42-unit Temple Apartments is situated at 2812 W. Temple Street. Both communities …
RIALTO, CALIF. — National CORE has opened Metro View Apartments, an affordable housing community located at 164 W. Bonnie View Drive in Rialto, 56 miles east of Los Angeles. The property is affordable to households earning between 30 to 60 percent of the area median income, according to National CORE’s website. Metro View Apartments comprises 55 units, including one manager’s unit. Apartments come in one-, two- and three-bedroom layouts. Amenities include a community center, computer center, pool, outdoor play area, recreation areas and an outdoor area for teens. Financing sources …
LONG BEACH, CALIF. — CBRE has arranged the sale of an eight-unit property located at 2203 E. Bermuda Street in Long Beach. A private investor purchased the asset for $2.7 million. Dan Blackwell, Trey Mitchell and Jack O’Connor of CBRE represented the all-cash, non-exchange buyer based in Los Angeles County. The seller was also based in Los Angeles County. The property was built in 1985 on a 5,962-square-foot lot. The building offers two-bedroom, townhome-style units with patios or balconies. The property features remote-controlled garage parking, secured entry and a shared …
LOS ANGELES — Institutional Property Advisors (IPA) has brokered the sale of Cobalt Apartments, a 135-unit community in the West Los Angeles-Culver City area of Los Angeles. IPA’s Kevin Green, Grabiec and Gregory Harris represented the seller, Greystar, and procured the buyer, Helio Group. Cobalt Apartments was built in 2019. Community amenities include a clubroom, fitness center, pool and spa, two open-air lounges, gated covered parking and bike storage. The average unit size is 854 square feet.
LOS ANGELES — Fairfield has completed the development of Chroma Apartment Homes, a 275-unit community in the Los Angeles neighborhood of Canoga Park. Located at 6709 Independence Ave. #100, Chroma Apartment Homes offers units in studio, one- and two-bedroom layouts. Amenities include a rooftop lounge, pool and spa, courtyards, a fitness center, co-working lounge, pet park and pet wash station.
LOS ANGELES AND SHREVEPORT, LA. — American South Fund Management (ASFM), a joint venture between SDS Capital Group and Vintage Realty, has closed its second real estate fund with $174 million in equity commitments. SDS Capital Group is a Los Angeles-based impact fund manager. Vintage Realty is a property developer and manager that is headquartered in Shreveport, Louisiana. ASFM’s fund will provide preferred equity and equity financing for affordable housing projects in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. The fund includes a $50 …
CHULA VISTA, CALIF. — JLL Capital Markets has arranged the $116 million sale of — and $71.8 million in acquisition financing for — Pulse Millenia, a 273-unit community in the San Diego suburb of Chula Vista. JLL represented the seller, Northwestern Mutual, in the deal. JLL also worked on behalf of the new owner to secure a seven-year, fixed-rate loan through Freddie Mac Multifamily. Built in 2016, Pulse Millenia was the first community to be constructed as part of the $4 billion Millenia, a master planned development in Chula Vista’s …
INGLEWOOD, CALIF. — JPI has broken ground on Jefferson Inglewood, a 222-unit development in the Los Angeles suburb of Inglewood. The community will rise eight stories and offer studio, one- and two-bedroom floor plans. The project utilizes the City of Inglewood’s Transit Oriented Development plan and design guidelines. TCA Architects was the architect. Englekirk Engineering provided structural engineering services. Kimley Horn Associates Engineering provided civil engineering. First occupancies at the property are slated for early 2026.