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Walker & Dunlop Arranges Construction Loan for Vermont-Slauson Affordable
Walker & Dunlop has arranged a $34.8-million construction loan for 4301 Vermont, a to-be-built affordable housing multifamily apartment project in the Vermont-Slauson neighborhood of Los Angeles. The W&D Multifamily Finance team led by Chris Montes arranged the loan on behalf of the client, SoLa, and identified the lender as ACORE Capital.
4301 Vermont will be a five story, 188-unit affordable housing apartment complex. The project will feature prefabricated modular units supplied by Model Z, a subsidiary of SoLa Impact. Approximately 80% of the units will be designated for low-income residents, while 20% will be reserved for moderate-income residents.
“SoLa continues to perfect the model for bringing affordable housing to communities. W&D is glad we could contribute to another marquee development for our friends and partners at SoLa through this financing,” said Montes. “This development will bring much needed housing to urban in-fill Los Angeles, specifically to low-income and moderate-income tenants.”
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- ◦Development
- ◦Financing
