Related Companies And Weingart Center Secure $30M Construction Loan For Skid Row Housing Project

600 San Pedro St Los Angeles, CA 90021, USA

$30,000,000

Building Size

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Asset Type

Development Site

Closing

Jun 30, 2023

AI

Related Companies and the Weingart Center have obtained $30 million in state-backed bonds for their transitional housing project near Skid Row in Los Angeles. The funding will support the construction of an 18-story tower at 600 South San Pedro Street, offering 298 affordable units and on-site supportive services.

Summary of transation details

Property Type: Development Site
Transaction Amount: $30,000,000
Lender: California Municipal Finance Authority
Landlord: Related Companies - William Witte; Weingart Center - Kevin Murray

The construction loan of $30 million was secured by Related Companies and the Weingart Center for their transitional housing project. The 18-story tower located at 600 South San Pedro Street in Los Angeles will provide 298 affordable units along with on-site supportive services.

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