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BMO Issues $44 Million Construction Loan To Passo For Four Multifamily Projects In West Los Angeles

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FINANCED
$44,000,000

California

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MultiFamily
Financed 12/05/2025
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FINANCED

BMO Issues $44 Million Construction Loan To Passo For Four Multifamily Projects In West Los Angeles

1747 Stoner Avenue, 1734 South Barrington Avenue, 4129 Centinela Avenue & 4706 Centinela Avenue

See Similar Deals
MultiFamily
Financed 12/05/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The transaction involves a construction loan for four multifamily projects located at 1747 Stoner Avenue, 1734 South Barrington Avenue, 4129 Centinela Avenue, and 4706 Centinela Avenue in the Sawtelle and Mar Vista markets. The total loan amount is $44,000,000 for 255 residential units that are expected to be completed in 2027. These developments aim to address the pressing demand for affordable housing in West Los Angeles as part of the ED1 program.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $44,000,000
  • Lender: BMO
  • Landlord: Sabin Burrell, John Hynes, Scott Pollack, Simon Aftalion, Daniel Glimcher - Passo
  • Broker: Kevin Donner - Newmark
  • Units: 255
  • Loan Type: Construction

The developers, Sabin Burrell, John Hynes, Scott Pollack, Simon Aftalion, and Daniel Glimcher, are associated with Passo, a Los Angeles-based firm specializing in real estate development and investment. They focus on high-quality, affordable housing solutions and are currently exploring new development opportunities and potential joint venture partnerships.

Players

Kevin Donner
Newmark
Kevin Donner
48 deals$10.1B volume
BROKER
Newmark
Newmark
BROKERAGE

Details

FINANCED
IMAGE: Sabin Burrell, John Hynes, Scott Pollack, Simon Aftalion & Daniel Glimcher DATE: 12/05/2025 ADDRESS: 1747 Stoner Avenue, 1734 South Barrington Avenue, 4129 Centinela Avenue & 4706 Centinela Avenue MARKET: Sawtelle, Mar Vista ASSET TYPE: Multifamily ~ UNITS: 255 LENDER: BMO (@BMO_US) LANDLORD: Sabin Burrell, John Hynes, Scott Pollack, Simon Aftalion, Daniel Glimcher - Passo BROKER: Kevin Donner - Newmark (@Newmark) LOAN AMOUNT: $44,000,000 LOAN TYPE: Construction NOTE FROM DEVELOPER: BMO has issued a nearly $44 Million construction loan to Passo for four multifamily projects in West Los Angeles: 1747 Stoner Ave, 1734 Barrington Ave, 4129 Centinela Ave, and 4706 Centinela Ave. Together, the four projects comprise 255 units that will all deliver in 2027. The four buildings are products of the ED1 program, bringing much needed affordable housing to the West LA market. Passo is a leading Los Angeles-based real estate development and investment firm dedicated to creating high-quality, affordable housing that meets the city’s urgent and growing needs. We are actively seeking new ground-up development opportunities. Passo also welcomes inquiries from property owners interested in potential joint venture partnerships. Please send opportunities to [email protected].

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$44,000,000.00

Monthly NOI$293,333.33
Monthly Debt Service$278,109.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00