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5/18/17
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Rescore Property Corp has obtained $100 mil in construction financing for The Rise Hollywood, a 368-unit, seven-story apartment project in Hollywood. The project is located at 1331 North Cahuenga Blvd, within the Hollywood Entertainment District.
The Rise Hollywood has a Walk Score®, which measures the walkability of an address, of 94 out of 100. The site offers immediate access to restaurants, retail, nightlife, and entertainment venues. The neighborhood also has strong market fundamentals with consistently above-average employment rates, sustained rent growth, and high occupancy.
The project will feature nine-foot ceilings, wood flooring, stainless steel appliances, quartz countertops, balconies, and walk-in closets. Amenities will include a pool, fitness center, yoga room, club room, and dog run.
Rescore is a private real estate investment trust founded by Arthur Falcone, Tony Avila, and Bill Powers, based in Boca Raton, FL, alongside local partner Cal-Coast, based in Los Angeles. Kevin O’Grady, Daniel Sheehan, and Eric McGlynn with Walker & Dunlop arranged the loan, which was funded through Bank of the Ozarks.
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