Six Peak Capital Secures $31.3 Million Loan For 116-Unit Affordable Housing Project In Los Angeles

The asset involved in this transaction is a development site located at 9033 Ramsgate Avenue in Los Angeles, specifically in the Westchester neighborhood. The project is focused on creating a 116-unit, 100% affordable housing initiative. The total loan amount for this construction project is $31,300,000, which will facilitate the building process. The site just broke ground and is slated for completion in 2027.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $31,300,000
• Landlord: Chris Aiello - Six Peak Capital
• Broker: Zachary Streit - Priority Capital Advisory
• Loan Type: Construction
• Project Completion Date: 2027
• Builder: LV Construction LLC

Chris Aiello represents Six Peak Capital in this transaction, while Zachary Streit serves as the broker from Priority Capital Advisory. The project is officially known as the Executive Directive 1 (ED1) project, which aims to provide fully furnished units in proximity to LAX.