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10/26/22
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Six Peak Capital and Grandview Partners have partnered to develop a two-structure micro-suite housing project in L.A.’s Mar Vista area. Way Capital has arranged $40 mil in senior construction money for the development, consisting of 282 suite living units across 49 multifamily units located at 4339 Berryman Ave and 4367 Berryman Ave.
Planned as four stories, the project will feature an open-air landscaped courtyard and a diverse unit mix consisting of three-bedroom, five-bedroom and six-bedroom units, ranging in size from 1.3k sf to 2.2k sf. Individual unit amenities will include:
• Stainless steel appliances
• In-unit washer/dryer
• Modern granite/quartz kitchen and bathroom countertops
• Luxurious interior finishes
• Wood flooring
Most resident bathrooms are ensuite, allowing for maximum privacy. Common amenities will include:
• Two community rooms with dedicated workspaces
• A spacious communal rooftop deck, including barbeques and resident gathering spaces
• A secure package room, a storage room and bicycle parking
• An open-air landscaped courtyard
WAY Capital’s Malcolm Davies and Zachary Streit, along with other members from WAY in its Los Angeles office, sourced the financing on behalf of East West Bank. Construction completion is anticipated to occur in 2024.
“The suite living projects are a modern solution to the ongoing housing shortage and availability crisis,” said Davies. “This project provides a beautiful living environment in Mar Vista, a neighborhood desirable for Millennials and Gen Z.”
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