LOS ANGELES — A new condominium project in Downtown Los Angeles has received $77 million in financing. The 151-unit community will be located at 1050 S. Grand.
This will be the first new condominium tower development in Downtown in more than seven years, according to the developer, JLL’s Capital Markets team, which secured the financing. The property is being developed by Trumark Urban.
The tower will also feature seven levels of parking and 5,672 square feet of ground floor retail space. The non-recourse construction financing was arranged by JLL’s John Manning, Chris Casey, Reid McGlamery and Alex Witt. It was provided by PCCP.
This is the fourth major closing from JLL on behalf of Trumark, totaling $460 million of placed capital over the past two years.