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8/13/25
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VDM Partners obtained $43.4 mil in acquisition financing for Villa Del Mar, a 198-unit, four-building, three-story luxury apartment community and 209 adjacent marina boat slips located at 13999 Marquesas Way in Marina del Rey. The loan, which features a 70% LTP ratio, has a five-year fixed term with prepayment flexibility and two years of interest-only payments.
Initially constructed in 1972, Villa Del Mar consists of four three-story apartment buildings over at-grade parking, a five-story parking structure, and a 209-slip Marina. The property contains 198 units in large one- and two-bedroom arrangements, 209 boat slips, and 645 parking spots with 1,500 feet of frontage on the marina. The units feature amenities such as hardwood-style floors, marina-view balconies, and in-unit washer/dryers, while residents can enjoy a wide range of top-tier amenities on the property, including a custom-designed clubhouse, state-of-the-art fitness center, pool and spa, basketball and tennis courts, and barbecue areas.
Villa Del Mar is subject to a ground lease with the County of Los Angeles, which was recently extended in 2014. As part of the extension, the property’s previous ownership completed $27 mil in renovations in 2017, while VDM Partners will conduct approximately $8.5 mil in renovations to the marina boat slips by 2029 as required by the lease.
Mike Guterman with BWE arranged the acquisition financing through a life company.
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