Updated Jan 21, 2025
JLL Arranges $120.8 Million Construction Loan For Après Beverly Grove Residence Club
400 San Vicente Boulevard
$120,800,000
$718/SF
Building Size
168,239 SF
Asset Type
MultiFamily
Closing
Jan 24, 2025
About this deal
AI
The property asset involved is a multifamily development project located at 400 San Vicente Boulevard in the Beverly Grove market. The project encompasses 126 units and spans a total square footage of 168,239. The transaction involved a construction loan amounting to $120,800,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $120,800,000
- Address: 400 San Vicente Boulevard
- Market: Beverly Grove
- Units: 126
- Square Footage: 168,239
- Landlord: The Abraham Companies
- Brokers: Marc Schillinger, Mark Erland, Matt Benson, Keaton Yellin & Allie Black - JLL
- Loan Type: Construction
- Loan Terms: See Notes
The deal was facilitated by brokers Marc Schillinger, Mark Erland, Matt Benson, Keaton Yellin, and Allie Black from JLL, who arranged non-recourse construction financing for the Après Beverly Grove Residence Club, a luxury mixed-use development that incorporates ground-floor retail space.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93