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6/17/24
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EGC Real Estate Group has recapitalized Kanvas, its recently completed 67-unit apartment building in Los Angeles’ Koreatown submarket, with a new loan for $21.6 mil. Financing was arranged by Priority Capital Advisory and provided by BOLOUR.
Located at 905 S. Vermont Ave in the heart of Koreatown, one of Los Angeles’s most dense and culturally diverse neighborhoods, Kanvas boasts a Walk Score of 95, offering unparalleled proximity to some of the best dining, shopping, and entertainment options in the city. The property features a diverse unit mix including 13 studios, 33 one-bedroom, and 21 two-bedroom units, seven of which have been set aside as affordable.
Designed by renowned architecture studio 64North, Kanvas boasts a clean, contemporary design and offers a full suite of amenities including a roof-top amenity deck, fitness center, courtyard, storage space, ground floor retail, bicycle parking, and abundant subterranean and surface parking. In-unit amenities include contemporary finishes, stainless steel appliances, a gas range, balconies, and in-unit washers and dryers. In addition to the 67 units, the multifamily property features 1.1k sf of ground-floor retail space, best-in-class finishes, and attractive amenities.
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