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3/16/23
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A GPI Companies affiliate has secured $84 mil in construction financing for Overland and Ayres, a 201-unit, multi-housing development in West Los Angeles. The project, located at 2455 Overland Ave, is scheduled for completion in 2024.
The six-story Overland and Ayres will be fully integrated with the award winning, newly constructed West End creative campus. It will feature 100% market-rate units, consisting of 56 studios, 97 one-bedroom units, 39 two-bedroom units and nine townhomes fronting Ayres Ave. Amenities include a cutting-edge health club with open-air environments, including a podium pool deck and outdoor fitness lawn. Additionally, the community will include approximately 6.2k sf of commercial space.
The project is in an affluent West Los Angeles neighborhood and is proximate to numerous entertainment and employment drivers. Additionally, residents will have convenient access to the Metro Expo Line (located within a half mile), Interstate 405 and Interstate 10.
Kevin Mackenzie, Greg Brown, Jeff Sause, Sam Godfrey and Charlie Vorsheck arranged the floating-rate construction loan through Citizens.
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