The R1 Living Lofts, a condominium loft project, and the R2 Living Lofts are located just about a block south of the new community. When the R3 project is completed, California Landmark Group will have developed more than 400 units and 500,000 square feet of community space on about eight acres of land in less than a decade.
The Marina Arts District continues to be a thing, with a groundbreaking on its latest addition, a $30-million mixed-user.
In separate financings, Mesa West Capital has funded two loans totaling $51.4 million for the acquisition and renovation of multifamily properties in the San Francisco Bay area cities of Larkspur and Palo Alto.
Located at 7928 Hollywood Blvd, the complex features classic-California, Spanish-style architecture, designed by PK Architecture and Rios Clementi Hale.
CLG acquired the property via its affiliate Park Grand Landmark LP. The purchase represents CLG’s second San Gabriel Valley-area affordable housing transaction in the last 12 months.