Ato is the Sole New Construction Delivery in LA’s Little Tokyo
Inventory and construction completion financing of $45.5 million were recently arranged for Ato, a 77-unit 81,618-square-foot mixed-use condominium project in the heart of Little Tokyo in downtown Los Angeles. The project is the sole new construction delivery in Little Tokyo and features 2,400 square feet of ground-floor retail and an 8,000-square-foot rooftop amenity area.
Ato is slated to deliver in first quarter 2022. Despite COVID-19-related challenges, the project is building on downtown Los Angeles’ long-term economic growth and limited new supply of residential condominium projects.
Within the largest and most populous Japantown in the United States, the development is accessible to Maruakai Market, Japanese Village Plaza and the Grand Central Market.
Malcolm Davies and Zack Streit of The Davies Group at George Smith Partners arranged the financing. In addition to Davies and Streit, other Davies Group members Alexander Rossinsky, Drew Sandler, Aiden Moran, Brandon Asherian and Ben Tracy sourced the financing on behalf of the sponsor.
“We are extremely excited to have identified a lender that understands the value of this location within Little Tokyo and believes in the recovery of downtown Los Angeles coming out of COVID-19,” said Streit. “The lender also recognized the sponsor’s strength, track record and ability to execute on its business plan.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.