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September 24, 2023
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New Affordable Housing Project in L.A.ís Westlake North Area Lands $11.75 Mil in Permanent Financing


West Hollywood Community Housing Corporation has obtained $11.75 mil in forward permanent financing for Third Thyme, a 104-unit, affordable multi-housing community in Los Angeles. Third Thyme is situated on a 14.9k sf lot at 1441 W. 3rd St in the cityís Westlake North neighborhood.

The property is an affordable, new construction, high rise, utilizing 9% LIHTC and public funds. The property will serve seniors aged 62+, and permanent supportive housing, as well as achieve LEED Gold certification at completion.

Anson Snyder with JLL Capital Markets arranged the 15-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo℠ lender.

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