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LOS ANGELES, CALIF. — George Smith Partners has secured $120.1 million in permanent financing for Da Vinci Apartments, a residential complex in downtown Los Angeles. Gary Tenzer and Dasha Savchenko of George Smith Partners advised the undisclosed borrower. The loan features a fixed rate for 10 years at 4.38 percent with interest-only payments for the first seven years.
The five- and six-story multifamily community offers 526 units, a professional basketball court, conference room, business center, heated swimming pool, 24-hour fitness center, dry sauna and tanning beds. At the time of financing, the property was 98 percent occupied.