Fifteen Group has refinanced Los Angeles' Wyvernwood apartment complex with a $162.9 million loan from MF1 Capital. The property, located at 2901 East Olympic Boulevard, consists of a multifamily building with 1,175 units. Despite facing challenges such as deferred maintenance, rent collection issues, and abandoned redevelopment plans, the property's potential has attracted the attention of lenders and investors.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $162,900,000
• Address: 2901 East Olympic Boulevard
• Market: Los Angeles

The loan was provided by MF1 Capital, with Scott Waynebern acting as the lender's representative. Ian & Mark Sanders of Fifteen Group served as the landlords in this refinancing deal. This transaction marks a strategic move by Fifteen Group to address the challenges faced by the Wyvernwood apartment complex and ensure its long-term viability. The loan will help fund necessary repairs and improvements to enhance the tenant experience and attract new residents.