A US$ 40M loan has been secured for the construction of Six Peak Capital residential complexes in Del Rey, Mar Vista, California. The two multifamily residential complexes are being developed by Six Peak Capital in addition to Grandview Partners. Their sites are 4339 and 4367 Berryman Avenue.
The projects will consist of a total of 49 apartments. The apartments will feature two four-story structures. Moreover, they have a mixture of three-, four-, and five-bedroom units. The units will measure 1,297 to 2,204 square feet each. They will be rented out as 282 suite living units.
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Featured amenities
A central courtyard is also expected, along with other interior features. These features include wood flooring, washer-dryer sets, and stainless-steel appliances. Additionally, designs call for rooftop decks and two community rooms as shared facilities.
In a news release, Way Capital founder and managing director Malcolm Davies commented on the project. He said, “The suite living initiatives are a cutting-edge response to the ongoing housing availability and shortage crisis.”
Moreover, Davies explained that the project provides a wonderful living environment in Mar Vista. The latter is reportedly a neighborhood desired for Millennials and Gen Z.”
The team behind Six Peak Capital residential complexes in Del Rey
The Six Peak Capital residential complex at 4339 Berryman is being designed by The Albert Group Architects. The one at 4367 Berryman on the other hand is being designed by Patrick Tighe Architecture. The opening of both Six Peak Capital residential complexes in Del Rey is scheduled for 2024.
“With our partners at Grandview, we are eager to increase our commitment in Los Angeles. The projects are a testament to our belief that housing should be made available for young professionals at more affordable prices. This is especially in some of Los Angeles’ most costly neighborhoods and close to important job centers.
We have effectively expanded our loan ties with this product typology. This is by far because of our colleagues at Way Capital, said Chris Aiello. Aiello is a partner at Six Peak Capital.
