WSC Communities Secures $49M Construction Loan For Multifamily Development In Downtown Santa Monica & Sawtelle

The loan for a multifamily property in Downtown Santa Monica and Sawtelle has been secured for a total loan amount of $49,000,000. The property is located at 1543-1557 7th Street and 1421-1427 Barry Avenue.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $49,000,000
• Lender: Lightstone Capital - Eugene Rozovsky
• Landlord: WSC Communities
• Brokers: Justin Piasecki & Richard Sutton - Lev Capital; Rahim Thobani - RST Capital Partners
• Loan Type: Construction

The loan is provided by Lightstone Capital, with Eugene Rozovsky acting as the representative. WSC Communities is the landlord for this property transaction. The brokers involved in this deal are Justin Piasecki, Richard Sutton from Lev Capital, and Rahim Thobani from RST Capital Partners.