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11418 Missouri Avenue
FINANCED

Eris Development & Generation REP Secure $8M Construction Loan For LA Multifamily

11418 Missouri Avenue

MultiFamily
clock iconFinanced 46 days ago
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Summary

Loan
CALIFORNIA
MultiFamily

The multifamily property located at 11418 Missouri Avenue in Los Angeles, spanning 22,000 square feet, was involved in a recent transaction. The building consists of 44 units and was the subject of a construction loan amounting to $8,000,000 provided by Century Housing.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,000,000
  • Units: 44
  • Building SF: 22,000
  • Address: 11418 Missouri Avenue
  • Market: Los Angeles

Kevin Zarabi of Eris Development and Ramin Ghaneeian along with Steve Scheibe from Generation Real Estate Partners were the key individuals involved in this deal. The construction financing of $8 million was secured to build a 44 unit apartment complex in the West LA neighborhood of Sawtelle. The project is set to cater to individuals earning less than 80% & 120% of the area median income, with an anticipated completion date by Winter 2026.

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Century Housing's profile picture
Century Housing
Century Housing

Details

Deal Summary
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FINANCED
IMAGE: Kevin Zarabi, Ramin Ghaneeian & Steve Scheibe DATE: 05/31/2024 ADDRESS: 11418 Missouri Avenue MARKET: Los Angeles ASSET TYPE: Multifamily ~ UNITS: 44 ~ BUILDING SF: 22,000 LENDER: Century Housing (@CenturyHousing) LANDLORD: Kevin Zarabi (@KevinZarabi) - Eris Development, Ramin Ghaneeian And Steve Scheibe - Generation Real Estate Partners (@Generation_REP) LOAN AMOUNT: $8,000,000 LOAN TYPE: Construction Loan NOTE FROM LANDLORD: Eris Development and Generation REP secured $8 million in construction financing to build a 44 unit apartment building in the West LA neighborhood of Sawtelle. The project utilizes the Mayor's Executive Directive 1 (ED1) and will serve individuals earning less than 80% & 120% of the area median income. Completion is expected by Winter 2026.

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Address11418 Missouri Avenue

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