Cameron Hassid Of Apollo Capital Secures $12M Construction Completion Loan For Jardinette Apartments

The property involved in this transaction is the Jardinette Apartments located at 5128 Marathon Street in the Melrose Hill, East Hollywood market. This multifamily asset comprises 43 units and spans a total of 27,708 square feet. The loan amount secured for the property is $12,000,000 under a construction completion loan, specifically for a gut rehab project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,000,000
• Address: 5128 Marathon Street
• Market: Melrose Hill, East Hollywood
• Units: 43
• Square Footage: 27,708
• Landlord: Cameron Hassid - Apollo Capital
• Brokers: David Oheb & Dorian Aftalion - Meridian Capital Group
• Loan Type: Construction Completion – Gut Rehab

David Oheb and Dorian Aftalion, representing Meridian Capital Group, facilitated the loan for the borrower amid a previous redevelopment financing maturity. Meridian Capital specializes in arranging financing for various property types, including multifamily and mixed-use projects, and operates in states like California and New York. The Jardinette Apartments is significant not only for its historical value but also for its designation as a Los Angeles Historic-Cultural Monument and its listing on the National Register of Historic Places.