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Colliers Arranges Construction Loan for ED1 Project in Koreatown
The Los Angeles Colliers Mortgage Structured Finance Group, led by Jonathan Lee and Shahin Yazdi, arranged $24,600,000 in construction financing on behalf of Kingsley Project LLC, part of the broader Keren Group, for the development of a 100% affordable multifamily property located in Koreatown, Los Angeles.
The financing for the 136-unit ED1 development represents 70% loan-to-cost and supports a significant new project aligned with the city’s commitment to addressing the housing crisis. The loan features an attractive interest rate priced at WSJ Prime+0%, with minimal deposit requirements.
“This financing comes at a time when construction lending remains highly selective,” said Lee. “Colliers sourced a lender that not only provided favorable terms—including a competitive interest rate tied to WSJ Prime with minimal deposit requirements—but also demonstrated a deep understanding of both the city’s Executive Directive 1 (ED1) and the available Transit Oriented Communities (TOC) density bonuses.”
- ◦Development
- ◦Financing
