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LOS ANGELES — JLL Capital Markets has arranged $16.7 million construction take-out financing for The Hobart, a mid-rise multifamily property in the Koreatown submarket of Los Angeles.
Chris Collins and Brad Vansant of JLL Capital Markets’ debt advisory team secured the two-year, floating-rate loan for the borrower, Jannone Development.
Built in 2023, the community features 39 one-, two- and three-bedroom floor plans ranging from 877 square feet to 1,424 square feet. The property is located at 3050 W. 11th St.