• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Redwood Urban scores refi on Beverly Hills, Hollywood, Long Beach apartments

Select properties from Redwood Urban (Redwood Urban, iStock)
1912 Whitley Avenue, 1823 Grace Avenue, 6600 Yucca Street, and 6651 Franklin Avenue (Redwood Urban, iStock)

Redwood Urban, a Los Angeles-based landlord, has scored a $108 million refinancing package for 400 units across Beverly Hills, Hollywood and Long Beach.

The firm got the financing through Fannie Mae’s credit facility program, according to commercial mortgage firm BWE, which arranged the deal. The loan closed in March, according to public property records.

Loans under the Fannie Mae program have a minimum five-year term and maximum terms of 10 years for variable-rate debt and 15 years for fixed-rate debt. Terms of Redwood Urban’s interest-only loan were not disclosed.

The new financing will replace a previous loan from JPMorgan, public property records show.

The loan will be used to refinance nine properties — six in Hollywood, two in Beverly Hills and one in Long Beach.

The Hollywood properties, which together total 267 units, are located at 1820, 1837 and 1912 Whitley Avenue, 1823 Grace Avenue, 6600 Yucca Street, and 6651 Franklin Avenue.

Rents at the 1820 Whitley property range from $1,898 a month for a studio to $2,953 for a two-bedroom unit, according to online listings for the complex. Average rent for an apartment in Hollywood is $2,599 per month, according to RentCafe.

In Beverly Hills, the properties at 9152 Alden Way and 8600 Burton Way total 29 units.

Further south in Long Beach, the loan will refinance a 104-unit property at 210 Third Avenue, which includes a pool, gym, spa and business center. The Long Beach complex also includes 15,000 square feet of ground floor retail space.

Many landlords scored refinancing deals in March, before interest rates started to rise. California Landmark Group scored $85 million in refinancing from Mesa West Capital for a 78-unit complex in Brentwood and a 79-unit complex in Hollywood.

[contact-form-7 404 "Not Found"]

The post Redwood Urban scores refi on Beverly Hills, Hollywood, Long Beach apartments appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 29 April 2022
  • The Real Deal
  • Uncategorized
  •  Like
Tishman Speyer, Bellco Capital JV raises $3B for life science buys →← Caruso’s personal tab on mayor’s race tops $22M
  • Recent Posts

    • Mayor Karen Bass blasts everyone but herself for wildfire mishandling May 7, 2025
    • WEA, Beverly Hills Estates cut deal on $27M Malibu Colony home May 7, 2025
    • Oil firm eyes homes, hotel near Bolsa Chica wetlands in Huntington Beach May 7, 2025
    • Bankrupt Rite Aid to market 1.3K stores, including dozens in LA County May 7, 2025
    • Carolwood flexes with new LA pocket listings portal, boasting $1B+ in inventory May 7, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM