LOS ANGELES — Berkadia has secured acquisition financing on behalf of a joint venture between California-based Cityview and New York-based Wafra for the purchase of Silva, a mid-rise multifamily community in Los Angeles.
Allan Freedman, Ben Harris, Charlie Haggard, Kevin Mignogna and Michael Beach of Berkadia arranged the floating-rate loan through 3650 REIT. Patrick McGlohn and Brian Gould of Berkadia also assisted with the financing. The loan facilitated the acquisition of Silva at the receipt of Temporary Certificate of Occupancy (TCO). Cityview and Wafra began lease-up of the community following closing.
Located at 235 N. Hoover St. on the city’s northwest side, Silva features 221 apartments with floor-to-ceiling windows, condo-quality finishes and an average unit size of 1,000 square feet.