Updated Dec 4, 2024
JLL Arranges $15.45M Construction Loan For 87-unit SoLa Impact Housing Community In Los Angeles
6100 South Main Street
$15,450,000
Units
87
Asset Type
MultiFamily
Closing
Dec 20, 2023
About this deal
AI
The 87-unit 6100 Main housing community in Los Angeles, developed by SoLa Impact, has secured a $15.45 million construction loan. Located in Greater Inglewood, the project aims to provide high-quality affordable housing with modern amenities and convenient access to transportation. Situated in a Qualified Opportunity Zone, the development benefits from its proximity to various attractions, including the LAFC soccer stadium and the George Lucas Museum of Narrative Arts.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,450,000
- Units: 87
- Acres: 0.52
- Address: 6100 South Main Street
- Market: Los Angeles
JLL Capital Markets facilitated the arrangement of the construction loan for the 6100 Main housing community. The brokers involved in the deal were Charlie Vorsheck, Greg Brown, Kellan Liem, and Allie Black, representing JLL. Their expertise and negotiation skills played a crucial role in securing the financing for the project.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93