 |
| Jonathan Lee |
LOS ANGELES, Calif. (March 2, 2015) – Commercial real estate
investment banking firm George Smith Partners has successfully arranged $21
million in financing for its client, Elite Real Estate, LLC, for the ground-up
construction of a 49-unit apartment
community at 11965 – 11973 Montana Avenue in the Brentwood neighborhood of Los
Angeles.
The development is planned to be one of the largest
multifamily projects built in Brentwood in the past decade, totaling more than
80,088 square feet of living space, according to George Smith Partners’ Senior
Vice President Jonathan Lee.
Lee was assisted in the transaction by George Smith Partners
Analyst, Adam Candler.
“The
Brentwood area has seen little development over the past ten years, fueling
pent-up demand for high quality rentals in this affluent marketplace,”
explained Lee.
“This luxury, Class A
development is well-positioned to be competitive in the market. The project will feature units that are built
to condominium specifications, resulting in large unit sizes when compared to
neighboring communities.”
For a complete copy
of the company’s news release, please contact:
Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940
No comments:
Post a Comment