Sharone Sabar Arranges $85 Million Loan for Beverly Hills Mixed-Use Development

• Marcus & Millichap Capital Corporation arranged an $85 million construction loan for a mixed-use project at 55 North La Cienega Boulevard in Beverly Hills.
• The six-story development will include 140 luxury apartments, 13,303 square feet of retail space, and 177 parking spaces.
• The project is expected to become the largest residential complex in Beverly Hills history upon completion.

What Is Planned at 55 North La Cienega Boulevard

A six-story mixed-use development is moving forward at 55 North La Cienega Boulevard following the closing of an $85 million construction loan. The 297,771-square-foot project will deliver 140 luxury multifamily residences along with 13,303 square feet of ground-floor retail space. The development site sits along the La Cienega corridor with convenient access to The Grove, Beverly Hills' Golden Triangle, Santa Monica Boulevard, and major transportation routes throughout Los Angeles. The sponsor acquired the property in October 2014 and spent more than a decade securing approvals and entitlements.

What the Financing Includes

Marcus & Millichap Capital Corporation's Sharone Sabar arranged the financing on behalf of a private investor. The four-year construction loan was provided by a national banking institution and structured at approximately 65 percent loan-to-cost. The financing allows construction to move forward on what is expected to become one of Beverly Hills' most significant residential developments. The borrower was not identified in the announcement.

What the Residential Development Includes

The project will feature a mix of luxury and income-restricted housing. Of the 140 residential units, 11 apartments will be designated for low-income households and another 11 units will be reserved for moderate-income residents. The development is designed to address housing demand in a market where new residential supply remains limited. Upon completion, the project is expected to be the largest residential complex ever built in Beverly Hills.

What Amenities Residents Will Receive

Residents will have access to an extensive amenity package designed around hospitality-style living. Plans include a rooftop deck with a resort-style swimming pool, restaurant and bar, coffee shop, recreation lounge, theater, wet and dry saunas, conference facilities, private workspaces, and a communal kitchen. The development will also include a three-level subterranean parking garage with 177 spaces. The amenity program is intended to create a full-service residential environment in the heart of Beverly Hills.

What This Means for Beverly Hills

The project represents a significant addition to Beverly Hills' housing inventory at a time when new multifamily development remains relatively limited. The transformation of a long-held commercial property into housing and retail reflects broader trends across Southern California, where developers are increasingly redeveloping underutilized commercial sites to meet residential demand. The scale of the project also highlights continued lender confidence in premium infill developments despite a challenging capital markets environment.