ACRES Capital has originated a $13.3 million loan to fund the construction of 636 North Juanita Avenue, a 33-unit, luxury multifamily development located in the Silver Lake area of Los Angeles, California.
The loan is provided to sponsor Barth Partners, a locally based real estate development and investment company focused on transitional urban districts and a range of asset classes.
Silver Lake will feature:
29 market-rate and four affordable housing units
Communal lounge space
Panoramic views of neighboring Downtown Los Angeles
636 North Juanita Avenue is located in Silver Lake’s Virgil Village neighborhood, which features exceptional walkability and is renowned for its trendy atmosphere, innovative cuisine and burgeoning independent arts scene. The location is bolstered by its vicinity to the growing entertainment, media and tech industries in Hollywood, which are major job centers for the city.