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

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.