Thursday, March 26, 2015

George Smith Partners Secures $21 Million in Construction Financing for New Los Angeles Multifamily Development


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

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