LOS ANGELES — Priority Capital Advisory has arranged a $28 million loan on behalf of CityPads, a private equity fund manager and multifamily developer with operations based in Chicago and Los Angeles. The senior debt financing will be used for the development of a 92-unit multifamily property located at 8931-8945 Helms Place in West Los Angeles. Zachary Streit of Priority Capital Advisory, along with Lucas Borges of JLL, arranged the loan.
The property will feature 38 studio units (33 market rate and five affordable), 53 one-bedroom units (47 market rate, six affordable) and one affordable three-bedroom unit. Building amenities will include coworking space and a lounge, private patios, onsite parking, 9- to 10-foot ceilings and a fully built-out roof deck with 360-degree views. Construction is underway for the project, which is slated for completion in late 2026.