REBusinessOnline

Dekel Capital Arranges $47.8M Construction Loan for Multifamily Community in Los Angeles

837-S-Fedora-St-Los-Angeles-CA

Slated for completion in summer 2022, the apartment community located at 837 S. Fedora St. in Los Angeles will include 200 apartments, a fitness center and community lounge.

LOS ANGELES — Los Angeles-based Dekel Capital, on behalf of Los Angeles-based CGI Strategies, has secured $47.8 million in non-recourse construction financing for the development of a multifamily community located at 837 S. Fedora St. in Los Angeles.

Provided by a national lender, the loan will be used for the construction of a seven-story concrete and wood building over two levels of subterranean parking in the Koreatown neighborhood. The multifamily property will offer 200 apartments in a mix of studio, one- and two-bedroom layouts, ranging in size from 622 square feet to 1,000 square feet, with 10 percent of the units earmarked for low-income residents. On-site community amenities will include a fully equipped fitness center, 6,500-square-foot community lounge, clubhouse, exterior courtyard and 5,400-square-foot rooftop lounge.

Completion is scheduled for summer 2022.

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