BEVERLY HILLS, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $85 million in construction financing for the development of a 297,771-square-foot mixed-use property at 55 N. La Cienega Blvd. in Beverly Hills. Sharone Sabar of MMCC arranged the financing on behalf of a private investor through a national banking institution. The four-year construction loan was structured at 65 percent loan-to-cost. The six-story property will features 140 multifamily residences and 13,303 square feet of ground-floor retail space. The project will include a three-level subterranean parking structure with 177 spaces, extensive community gathering areas, a restaurant and bar, a coffee shop, recreation lounge, theater, wet and dry saunas, conference facilities, private workspaces and a communal kitchen, as well as a rooftop deck with a resort-style pool. Eleven units will be designated for low-income households and an additional 11 units for moderate-income households.
