Alvarado Apartments and Temple Apartments in Los Angeles

JLL Arranges $5.5 Million to Finance Two Affordable Housing Communities in Los Angeles

by Channing Hamilton

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 offer studio, one- and two-bedroom floor plans. Of the 66 total units, 25 will be reserved for chronically homeless seniors, 39 units will be available to tenants earning 30 percent of the area median income and two units will be reserved for full-time on-site building managers.

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