Comstock Realty Secures $50M Loan From Schroders for 740-Unit Modelo in Commerce

Key Points:

• Comstock Realty Partners landed $50M in remediation financing for its 14-acre Modelo project
• The mixed-use plan includes 740 apartments, 45 condos, 65 townhomes, and 180K SF of retail
• Schroders Capital provided the debt to advance site cleanup and horizontal construction

$50M Capital Injection for Modelo

Comstock Realty Partners secured $50 million in remediation financing from Schroders Capital to advance its 14-acre master-planned community in Commerce, California. The financing will fund environmental remediation before horizontal construction begins on a three-acre section of the property.

14 Acre Mixed Use Community

The project, branded Modelo, will deliver:

• 740 apartments
• 45 condominiums
• 65 townhomes
• Nearly 180,000 square feet of retail

The development site sits between Interstate 5 and Slauson Avenue and includes the current Veterans Memorial Park parcel along with an adjacent vacant lot. Entitlements for the project were secured in 2022.

Housing Supply Play in Underserved Submarket

Commerce remains supply-constrained relative to broader Los Angeles County, particularly for new mixed-use housing near freeway access. The phased approach begins with townhomes, positioning the project to test for sale demand before vertical multifamily ramps up. Schroders’ involvement highlights continued institutional appetite for structured debt in large-scale Southern California housing projects.

Why It Matters

Remediation loans are often the first critical step in repositioning underutilized land into higher-density housing. For landlords and investors, securing early-stage capital de-risks the entitlement to the construction pipeline and signals long term project viability. With 740 apartments planned, Modelo represents a meaningful addition to the Los Angeles region’s housing stock.

Final Thoughts

Comstock’s $50M financing closes a key chapter in advancing the 14-acre Modelo master plan. As remediation begins and horizontal work follows, the project moves closer to delivering nearly 850 residential units and significant retail density in a high-barrier Southern California market.