Park La Brea, located at 6200 West Third Street in Los Angeles, has secured a $947 million loan, making it the largest apartment community on the West Coast. The multifamily property spans over 144 acres and consists of 4,249 units, making it a significant asset in the Los Angeles market. The loan, sourced on behalf of Prime Residential, will be used to refinance existing debt and includes features addressing housing and affordability challenges in the city.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $947,000,000
• Units: 4,249
• Acres: 144
• Address: 6200 West Third Street
• Market: Los Angeles

Newmark, represented by Mitch Clarfield, Ramsey Daya, Chris Moritz & Alec Newman, played a crucial role in securing the loan for Park La Brea. As brokers for Prime Residential, they successfully negotiated the 10-year fixed rate loan, which will enable the retirement of existing debt and contribute to addressing housing and affordability challenges in Los Angeles.