LONG BEACH, CALIF. — R&V Management and Trammell Crow Residential (TCR) have obtained $200 million in financing for the development of Alexan West End, a multifamily community in downtown Long Beach, approximately 20 miles south of Los Angeles. The financing package includes a $166 million construction loan from Kennedy Wilson and a $34 million mezzanine loan from an unnamed national life insurance company.
Located at 600 W. Broadway, Alexan West End will feature 600 apartments spread across four seven- or eight-story buildings. The community will offer a mix of studios, one-, two- and three-bedroom floor plans, averaging 767 square feet. Initial plans call for first units to be ready for occupancy by May 2026, with final completion planned for March 2027.
Community amenities will include multiple club lounges equipped with gourmet kitchens; coffee lounges; an indoor and outdoor fitness center; resort-style pool and spa; sky deck with various entertainment areas; and a pet spa with a grooming station.
Alexan West End will be situated on a 5.6-acre site adjacent to the Hilton Long Beach hotel and One World Trade Center. Other nearby attractions include the Los Angeles River, Port of Long Beach, Queensway Bay and Santa Cruz Park.
Bill Chiles, Scott Peterson, Morgon Fraser, Tom Traynor and Adam Spengler of CBRE Capital Markets’ debt and structured finance team secured the five-year financing on behalf of the borrowers.
“This capital allows the developer to get out of the ground when few other projects will and deliver much-needed housing to Long Beach,” says Peterson.
Trammell Crow Residential is one of the most prolific multifamily developers in the country. The company is an affiliate of Trammell Crow Co., a development firm and wholly owned subsidiary of CBRE Group Inc.
R&V Management is a multifamily owner, developer and property manager based in San Diego. Founded in 1979, the company’s portfolio spans more than 17,700 apartments across 63 properties in California.
— Amy Works and John Nelson