Martin Muoto Of SoLa Impact Secures $29 Million Loan For Crenshaw Lofts Development In Los Angeles
4607 Crenshaw Boulevard
$29,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 11, 2025
AI
The property asset involved is a development site located at 4607 Crenshaw Boulevard in Los Angeles. The asset is included in a larger commercial initiative known as Crenshaw Lofts, comprising a 190-unit mixed-use project in South LA. The loan amount secured for this project is $29,000,000, designated particularly for the commercial portion.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $29,000,000
- Lender: Border Communities Capital Company; Los Angeles Development Fund; Enterprise Financial CDE; Valley National Bank/Dudley Ventures; Bank Hapoalim (BHI)
- Landlord: Martin Muoto - SoLa Impact
Key individuals and companies involved in this transaction include Martin Muoto, representing SoLa Impact, who is managing the development site. The funding is aimed at constructing a Live Nation-backed tech training center and a nonprofit culinary café intended for workforce development and healthy food access, marking a significant effort in community enhancement.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93