{"id":8684,"date":"2025-06-23T18:37:09","date_gmt":"2025-06-23T18:37:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/8684\/"},"modified":"2025-06-23T18:37:09","modified_gmt":"2025-06-23T18:37:09","slug":"affinius-provides-55m-preferred-equity-investment-for-l-a-area-apartments-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/8684\/","title":{"rendered":"Affinius Provides $55M Preferred Equity Investment for L.A.-Area Apartments \u2013 Commercial Observer"},"content":{"rendered":"

The Latigo Group<\/a><\/b> has secured funding for its ground-up development of Hillcrest Apartments<\/b>, a multifamily project in the Los Angeles suburb of Thousand Oaks, Calif., Commercial Observer has learned.<\/p>\n

Affinius Capital<\/a><\/b> announced Monday it will invest $54.7 million of preferred equity for the development, while Bank OZK<\/a><\/b> originated the senior loan. The financing was arranged by JLL<\/a><\/b>\u2019s Bercut Smith<\/b>, according to the announcement.<\/p>\n

SEE ALSO: S3 Capital Lends $31M on Miami-Area Condo Project<\/a><\/p>\n

Latigo plans to use the funding to build a four-story, Class A multifamily property at the intersection of Hillcrest Drive and Rancho Conejo Boulevard. The project will feature 333 luxury residential units and ground-floor retail, according to the announcement.<\/p>\n

\u201cHillcrest Apartments will help fill the need for high-quality multifamily properties in a historically supply-constrained market,\u201d Mario Morales<\/b>, executive director at Affinius, said in a statement. \u201cWe are dedicated to beginning our partnership with Latigo, who builds exceptionally high-quality product, and look forward to benefiting from their local expertise in the Thousand Oaks market.\u201d<\/p>\n

The loan amount from Bank OZK was unclear. Spokespeople for Bank OZK, Latigo and JLL did not immediately respond to requests for comment.<\/p>\n

The project, which is scheduled for completion in the first quarter of 2028, will include apartments ranging from one- to three-bedroom units, as well as balconies and in-unit washers and dryers, the announcement said.<\/p>\n

The development\u2019s amenities will also include a rooftop terrace, a swimming pool, a fitness center, coworking spaces, a wellness center and even a multi-sport simulator.<\/p>\n

News of the funding comes after Latigo secured $59 million in construction financing for another California project in April 2020, as Commercial Observer previously reported<\/a>. The deal was for a 142-unit, 152,000-square-foot multifamily development in the northwestern part of Greater Los Angeles.<\/p>\n

Isabelle Durso can be reached at idurso@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"The Latigo Group has secured funding for its ground-up development of Hillcrest Apartments, a multifamily project in the…\n","protected":false},"author":3,"featured_media":8685,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5123],"tags":[1582,276,4282,9886,9887,2556,9888,9889,2961,224,5337,9890],"class_list":{"0":"post-8684","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-los-angeles","8":"tag-ca","9":"tag-california","10":"tag-channel","11":"tag-construction","12":"tag-construction-financing","13":"tag-development","14":"tag-finance-bercut-smith","15":"tag-hillcrest-apartments","16":"tag-la","17":"tag-los-angeles","18":"tag-losangeles","19":"tag-mario-morales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114734133822019507","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/8684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=8684"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/8684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/8685"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=8684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=8684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=8684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}