Developer Six Peak Capital and Grandview Partners have secured $40-million in construction financing for a pair of multifamily residential developments in Del Rey, Way Capital announced earlier this month.
The projects, slated for two properties located at 4339 and 4367 Berryman Avenue, will include a combined total of 49 apartments, which would be rented out as 282 suite living units.
“The suite living projects are a modern solution to the ongoing housing shortage and availability crisis,” said Way Capital founder and managing director Malcolm Davies in a news release. “This project provides a beautiful living environment in Mar Vista, a neighborhood desirable for Millennials and Gen Z.”
Plans call for two four-story buildings, each featuring a mix of three-, four-, and five-bedroom dwellings ranging from 1,297 to 2,204 square feet in size. Plans also call for a central courtyard, as well as in-unit furnishing such as stainless-steel appliances, washer-dryer sets, and wood flooring.
Likewise, plans call for common amenities including two community rooms and rooftop decks.
Both apartment buildings are slated to open in 2024.
- Del Rey (Urbanize LA)