PCCP Delivers $76M for Paramount Multifamily

Pacific Coast Capital Partners, LLC (PCCP) has supplied a $76.3-million senior loan to the joint venture of MWest Holdings and BentallGreenOak. The financing was for the acquisition and renovation of The Enclave, a 306-unit, 300,000-square-foot garden-style apartment property located at 13801 Paramount Blvd. in Paramount, CA, a southeast Los Angeles County community. The seller was Bridge Investment Group.

According to Ron Bonneau, managing director with PCCP. “This is a well-performing asset in a submarket that is less than three percent vacant, and has seen virtually no new supply over the past 20 years. The property’s attractive physical characteristics, central location, and relatively affordable rents are anticipated to drive demand over the coming years.”

The Enclave is one of only six market-rate multifamily properties in excess of 200 units in Paramount, Norwalk, Downey and Bellflower, and the only apartment community with more than 50 units developed in Paramount over the past 30 years.

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