This Week's LA Deal Sheet: Jamison Secures $220M For Koreatown Apartments
BWE secured $220M in financing for Jamison Properties’ Opus multifamily project from New York Life Real Estate Investors.
BWE Senior Vice President Max Sauerman and Vice President Tyler Shebeck originated a $205M senior loan and a $15M mezzanine loan on behalf of the borrower, an affiliate of Jamison Properties LP. The five-year senior loan was full-term interest-only with a rate locked at application.
The Koreatown project is a 428-unit apartment project that wrapped construction in June 2024. At loan closing, the property was almost 90% leased, according to a release from BWE.
PEOPLE
Paul Hastings has added partners DJ Moore, Beth Gordie, Winston Stromberg, Benjamin Hanelin and Lauren Paull to its real estate team in Los Angeles. The five-person team joins Paul Hastings from Latham & Watkins. Between them, the team has experience advising landowners, developers, project sponsors, institutions and utilities throughout the state on approvals necessary for development and infrastructure projects.
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NAI Capital Commercial has hired Eleni Christianson as senior vice president in the Ontario office, where she will focus on the Inland Empire, specializing in industrial and land sales.
Christianson brings nearly two decades of experience to NAI Capital and most recently served at Chaparral Land Co., playing a key role in expanding and deepening the firm’s reach throughout the Inland Empire and Orange County.
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Newmark has added Jonathan Schley and Andrew Turf to its global retail advisory services business. Both will be based in Los Angeles. They will both join the firm as vice chairmen.
SALES
MCA Realty acquired a 106K SF multitenant industrial building at 2270 Camino Vida Roble in Carlsbad for $30.7M. The firm acquired the property in an off-market transaction from an institutional owner with its MCA Realty Industrial Growth Fund II. MCA Realty will rebrand the property and undertake some improvements to the property. Cushman & Wakefield’s Conor Boyle and Tyler Stemley have been retained to oversee leasing at the property, which is currently 95% leased.
FINANCING
Walker & Dunlop arranged $87M in acquisition financing for Santa Fe Ranch Apartments, a garden-style apartment property in Carlsbad. Walker & Dunlop’s Capital Markets team, led by Mark Grace and John Montakab, arranged the interest-only, fixed-rate loan on behalf of an undisclosed institutional investment group, with Freddie Mac providing the capital.
Santa Fe Ranch Apartments is a 1987-vintage, 320-unit apartment complex with a mix of spacious one- and two-bedroom units across 20 acres at 3402 Calle Odessa.
THIS AND THAT
Industrious will open a new 23K SF location in Marina del Rey. The new location is set to open in December 2025 at 4204 Glencoe Ave. at the 42XX office campus. The owner of 42XX, The Bradmore Group, was represented by CBRE’s Jeff Pion, Michelle Esquivel-Hall and Drew Pion. Jerome Fried and Matthew Mallers of CBRE represented Industrious in the transaction.
