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5/07/25
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EGC Real Estate Group has obtained a $22.8 mil cash-out bridge loan on Mosaika, a newly developed 63-unit residential condominium project in Los Angeles’ Koreatown neighborhood. The project sits on .34 acres at 904 to 906 S. New Hampshire Ave, north of Olympic Blvd and just west of Vermont Ave.
The project was completed this year and is currently in the process of selling the individual units to buyers. The development, consisting of an eight-story building with one level of subterranean parking, features one- and two-bedroom units with best-in-class finishes. There are 10 affordable units.
The financing was arranged by Zachary Streit of Priority Capital Advisory (PCA) and funded by Tryperion Holdings. This is the second loan PCA has arranged in Koreatown this year. In March, the firm provided a $21 mil land and predevelopment loan for the recapitalization of a 2.1-acre site on behalf of the ownership, Grubb Properties, located at 1000 S. Vermont Ave. The fully entitled development is the site of Link Apartments® Kora, a planned, 241-unit mixed-use multifamily project.
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