News Real Estate January 30, 2023

Connect CRE: Lument Closes $23.5M Loan to Refi LA Affordable Project

Commercial real estate finance company Lument has closed a $23.5 million Freddie Mac loan to refinance La Brea Gardens, a 185-unit affordable multifamily community in Los Angeles. The loan ensures that 182 of the units will be preserved for affordable housing for lower-income residents.

“It was a pleasure to provide bridge financing for the sponsor, Western America Properties, affording them the time needed to negotiate a buyout price with their limited partner on this property.”
– Aaron Wooler, Managing Director

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