Thursday, June 11, 2015

George Smith Partners Secures $30.7 Million in Construction Financing for Three Koreatown Multifamily Developments in Los Angeles, CA


833 Harvard Boulevard, Koreatown Neighborhood
Los Angeles, CA
LOS ANGELES, CA (June 11, 2015) – Commercial real estate investment banking firm George Smith Partners has successfully arranged $30.7 million in construction financing for three separate multifamily developments, all within the Koreatown neighborhood of Los Angeles, according to Principal Jonathan Lee.

 Lee was assisted by George Smith Partners Assistant Vice President, Adam Candler.

“Koreatown has proven to be one of the most active markets in terms of new product within the City of Los Angeles,” explained Lee. 


“Because of its central location to Downtown, Hollywood and the Westside, the absence of anti-development neighborhood groups – common in other neighborhoods, and the Metro and Metro subway extension currently underway, Koreatown is re-establishing itself in the market as a neighborhood where development can be done.”

1101 South Harvard Boulevard, Koreatown Neighborhood
Los Angeles, CA
He continued, “Demonstrating to lenders both the strength of the for-rent and for-sale segments of this market, as well as the strength of each individual sponsor, allowed us to secure financing for the three multifamily developments. Ultimately we were able to secure impressive terms for each of our clients, including financings that were 75, 80 and 82 percent loan-to-cost.”

The properties are located at:

833 South Harvard Boulevard
1101 South Harvard Boulevard
305 South Ardmore Avenue

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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