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California  + Los Angeles  + Apartments  | 

LA’s Multifamily Market Stays Active with 6 Properties’ Financing

Six multifamily properties, across the Los Angeles DMA, have secured financing, thanks to Six Peak Capital.

According to a news release: 

Located in submarkets with high levels of rentership, specifically Eagle Rock, North Hollywood, East Hollywood and Koreatown, the portfolio totals 118 units, comprising 278 beds, which are in various stages of lease-up. All six assets feature high-quality amenities, including central heat/air-conditioning, stainless-steel appliances, in-unit washer/dryer, rooftop decks and/or private balconies and luxurious finishes. 

Here’s a sample of North Hollywood renter demographics:

There are 73,571 residents in North Hollywood, with a median age of 36. Of this, 51.04% are males and 48.96% are females. US-born citizens make up 60.71% of the resident pool in North Hollywood, while non-US-born citizens account for 23.53%. Additionally, 15.75% of the population is represented by non-citizens.

“The financing represents another milestone for the co-living asset class,” said Partner Chris Aiello at Six Peak Capital. “As Los Angeles continues to recover from the pandemic it will become apparent that this product type serves a missing middle renter and the backbone of LA’s dynamic workforce. It will become clearer that investors in equity and debt need to add exposure to co-living as a subset of their multifamily investment portfolio, especially in the LA market.”  

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