
Dekel Delivers $59M Construction Loan for Thousand Oaks MF
Los Angeles-based Dekel Capital arranged $59 million in construction financing on behalf of The Latigo Group, which started work on the first significant multifamily project to be developed in Thousand Oaks since 2007. When completed, the 3.2-acre, mixed use-development at 299 E. Thousand Oaks Blvd. will include 142 units of Class A apartment homes, 9,820 square feet of ground-level retail and parking for 239 vehicles.
After securing the construction financing from a publicly-traded REIT and a life insurance company, Los Angeles-based Latigo moved forward with the development closely adhering to local and state guidance for construction sites, according to Dekel’s Shlomi Ronen who arranged the financing.
“Despite the havoc that has literally shut down the real estate industry by the COVID-19 pandemic, our two lenders closed and funded their capital,” said Ronen. “The lack of housing construction in Thousand Oaks over the last decade has led to a notable supply/demand imbalance.”
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