NBA player Tobias Harris and his hoopster-turned-developer brother Terry Harris scored $46.6 million construction financing for an apartment development in Echo Park. The Harris brothers–one currently with the Detroit Pistons and the other having played in a developmental league– secured senior and mezzanine debt from JP Morgan and BlueHub Capital. Concord Summit Capital’s Robert Horton and George Smith Partners’ Justin Piasecki arranged the financing. The development, located in the southern end of the largely residential Echo Park District adjacent to Downtown L.A., totals about 86,500 square feet and includes studios, one-bedroom and two-bedroom apartments. The apartments are deed-restricted at 80 […]
This article originally appeared on The Real Deal. Click here to read the full story.
Powered by WPeMatico