LOS ANGELES — Meridian Capital Group has secured a $16.5 million refinancing for Kingsley Drive Apartments, a multifamily property in Los Angeles. Decron Properties is the borrower.
Seth Grossman and Jackie Tran of Meridian arranged the seven-year loan featuring full-term interest-only payments. A life insurance company provided the capital.
Located at 737 S. Kingsley Drive in Los Angeles’ Koreatown neighborhood, the five-story complex consists of 83 one- and two-bedroom apartments. Originally built in 1988, a portion of the apartments were renovated in 2016 and 2017 and feature quartz countertops, stainless steel appliances, wine coolers, tile flooring and updated fixtures. Community amenities include a pool, spa, fitness center, putting green and driving range.