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During the first half of the year multifamily properties in Southern California saw both vacancy and asking rents rise. Still, developers were active, with tens of thousands of units under construction in the region, according to a report from Northmarq. This Special Report talks to 12 multifamily experts, including both developers and brokers, about the state of L.A.’s multifamily market.
The Hobart, a 39-unit Class A mid-rise multifamily property located in the heart of Koreatown, has received $16.7 million in construction take-out—a permanent loan to pay off the balance of a former short-term construction loan.
SAN DIEGO, Aug. 9, 2023 - JLL Capital Markets announced today that it has arranged the $16.7 million construction takeout financing for The Hobart, a 39-unit, Class A mid-rise...