Cityview Secures $96M Refinance Loan From Fortress Investment Group For 296-Unit Multifamily Property

A refinancing loan was secured for a 296-unit Class A multifamily property located at 2528 South Grand Avenue in Downtown Los Angeles. The property was built in 2023 and spans seven stories. The loan amount for this transaction is $96,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $96,000,000
• Lender: Fortress Investment Group
• Landlord: Sean Burton - Cityview
• Market: Los Angeles

This refinancing supports ongoing leasing efforts and facilitates the payoff of approximately $80 million in construction debt. The transaction reflects the ongoing strength of multifamily fundamentals in Downtown Los Angeles, even amidst challenges within the office market.