California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
$60M Construction Financing for Valley MXU Dev
There is still time to join us for Connect Westside Los Angeles. The conference is Dec. 13th at the Luxe Sunset. Here’s where to register.
George Smith Partners arranged $60 million in ground-up construction financing for The Q East, a mixed-use development in Woodland Hills, CA. The property at 6219 De Soto Ave. will include 241 apartment units, 34,139 square-feet of retail space, as well as a restaurant and bar, a co-working space and a resort style pool.
George Smith Partners’ Steve Bram, along with David Pascale and Huber Bongolan Jr. arranged the financing on behalf of California Home Builders. Sized to 70% of total project cost, the three-year term has two 12-month options that float at 250 basis points over LIBOR.
Bram says, “The Q East will be the first to provide Woodland Hills residents with a luxury apartment option in the affluent Los Angeles suburb. In addition, none of the existing multifamily communities in the area provide the live-work-play environment that today’s renters demand.”
Construction is expected to be completed in 2019.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development




