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1/05/18
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Mosser Capital has secured three separate five-year, floating-rate loans totaling $42.33 mil on a six-property, 222-unit multi-housing portfolio in Los Angeles. The loan proceeds were used acquire the properties, upgrade common areas and improve rental units as they turn.
The properties in the portfolio are: 1317 Bronson (16 units), 1417 Bronson (45 units), 407 Gramercy (31 units), 1217 Berendo (16 units), 1234 Berendo (14 units), and the Lido Apartments at 6500 Yucca Street (100 units). All properties are near mass transit in the Hollywood and Koreatown submarkets.
Peter Smyslowski and Bercut Smith with HFF arranged the financing, which was funded through ACORE Capital LP. According to Smyslowski, Mosser views the assets as a value-add opportunity.
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