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November 12, 2019
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MULTIFAMILY NEWS
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New Westside L.A. Res Development Lands $165 Mil in Financing

9/23/19

Mill Creek Residential, along with an institutional joint venture partner, locked up new financing of $165 mil on Modera West LA, a newly-built, 376-unit multifamily community located in West Los Angeles. The project, located at 5901 Center Dr, was just completed in August 2019.

The new community is already 62% leased and features a spa, pool with private cabanas, outdoor BBQ grills, dog run and grooming, rooftop deck, and valet dry cleaning. Unit amenities include balconies, double vanities, walk-in closets, and wine fridges.

Located in the Greater Culver City area, Modera West LA is immediately adjacent to the Howard Hughes Center, home to over 156 stores and restaurants. The community benefits from its easy accessibility to I-405, creating excellent connectivity throughout Los Angeles. The Greater Culver City area has been dubbed Silicon Beach due to West Los Angelesís rapidly expanding tech center, which is home to major players such as Amazon, Apple, Netflix, Google, and Facebook.

The financing was arranged by Kevin MacKenzie, John Chun and Nick Lench with JLL, and funded by Square Mile Capital Management LLC.





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