David Mazza Secures $16M Construction Loan For Multifamily Properties In LA

The multifamily property located at 4973 West 21st Street & 4325 South Main Street in Los Angeles spans 41,002 square feet and comprises 78 units. The construction of this property was financed through a $16,000,000 loan, facilitated by Varda Asset Strategies. Goran Vujanovic of Quintessentially Estates secured the preferred equity portion of the capital stack for this development led by David Mazza. The strategically positioned sites in Mid City & Downtown submarkets are part of qualified opportunity zones and are set to offer high-quality affordable housing options with various amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,000,000
• Units: 78
• Market: Los Angeles
• Loan Type: Construction Loan
• Loan Terms: 24

Varda Asset Strategies played a crucial role in arranging the construction loan for the project, while Goran Vujanovic from Quintessentially Estates facilitated the preferred equity component of the capital stack. The development, overseen by David Mazza, is strategically positioned in promising locations within Los Angeles. The upcoming properties are designed to provide top-notch affordable housing, featuring amenities such as in-unit laundry, a roof garden with native plantings, and convenient access to transportation options.