LOS ANGELES — Priority Capital Advisory has arranged a $13.6 million bridge loan for the refinancing of a student housing and multifamily property located at 8833 Reading Ave. in Los Angeles’ Westchester neighborhood. The ownership is a joint venture of Six Peak Capital and Grandview Partners.
Completed in April 2025, the five-story property features 33 one-, two-, three-, four- five- and six-bedroom apartments and a 25-space subterranean parking level. Units features stainless steel appliances, quartz countertops, vinyl plank and tile flooring, walk-in closets and washers/dryers. Community amenities include a rooftop deck with barbecues and a clubhouse with a kitchen, as well as automated package lockers.
The property is currently 88 percent leased, with approximately 50 percent of the units occupied by students. Additionally, three units are covenanted for very low-income households and two units covenanted for extremely low-income households.