Three conventional multifamily properties, plus three other co-living properties combine for a six-property portfolio – all in Los Angeles – and all have had non-recourse bridge financing arranged, according to a news release from The Davies Group.

Malcolm Davies and Zack Streit of The Davies Group at Los Angeles-based George Smith Partners arranged $53.7 million of bridge financing in this deal.

The financing was arranged on behalf of New York and Los Angeles-based Six Peak Capital and provided by MF1, which is a partnership between Berkshire Residential Investments and Limekiln Real Estate. From from the 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.

Co-living – Six Peak Capital’s swing zone – has become a popular, modern solution to the on-going housing shortage and affordability crisis in major cities like Los Angeles and New York City.