Jamison Properties Secures $34.5M Construction Loan From Comerica Bank For Amara Apartments

The property at 11600 West Santa Monica Boulevard in Los Angeles is set to become the site of the Amara, a 100-unit apartment complex. The development is being spearheaded by Jamie Lee of Jamison Properties with the assistance of a $34.5 million loan from Comerica Bank. The complex will offer a mix of one- and two-bedroom units, with a notable nine units allocated for affordable housing. The amenities planned for the development include a swimming pool, fitness center, spa, clubhouse, rooftop terrace, and a parking garage with space for 143 vehicles.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $34,500,000
• Market: Los Angeles
• Lender: Comerica Bank
• Landlord: Jamie Lee - Jamison Properties
• Loan Type: Construction Loan

Jamie Lee of Jamison Properties is leading the development of the Amara apartment complex, which will provide housing options in Los Angeles. Comerica Bank serves as the lender for the project, providing a construction loan of $34.5 million. The collaboration aims to deliver a modern living space with a variety of amenities and a focus on affordable housing, catering to the growing demand for such offerings in the market.