March 17, 2016
Los Angeles-based Century West Partners initiated construction on Next On Lex, the largest apartment development to commence in Los Angeles County so far this year. The $280-million mixed-use multifamily project is located in downtown Glendale, near major employers and such popular retail destinations as The Americana at Brand and The Glendale Galleria.
The new six-floor community, located on the 200 block of Lexington, includes 494 rental units set above 8,140 square feet of ground floor retail space and services anchored by Citibank.
Citizens Bank provided a $126.4-million construction loan for the project, which is slated for initial unit deliveries in fall 2018. CBRE Capital Markets’ Brian Eisendrath and Brandon Smith facilitated the financing. Century West Partners is owned by Fifield Companies and Cypress Equity Investments.