August 20, 2019
Connect Orange County is coming up this week (August 22nd) at The Resort at Pelican Hill in Newport Coast. More information about the event and registration details can be found here.
Dekel Capital arranged preferred equity and construction financing in excess of $80 million for the development of Jefferson on Imperial, a 244-unit luxury multifamily community in South Gate, CA. The financing was secured on behalf of JPI.
The project is the first new multifamily development in the last 30 years to be built in the Downey/South Gate area, notes Dekel Capital’s Shlomi Ronen.
Ronen says, “South L.A. has long been overlooked by multifamily developers in this current cycle, which presents a great opportunity for JPI. This property will offer above average amenities and finishes at an affordable price point for the average two-income working household, something this market is severely lacking.”
Located at 10920 Garfield Ave., the 4.1-acre site formerly housed a retail center. The new four-story, wrap structure will offer a mix of one, two and three-bedroom homes. Initial apartment homes are expected to be delivered by October 2020.
For comments, questions or concerns, please contact Dennis Kaiser