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.

View looking west at 4339 Berryman AvenueThe Albert Group Architects

“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.

View looking west at 4367 Berryman AvenuePatrick Tighe Architecture

The Albert Group Architects is designing 4339 Berryman, while 4367 Berryman is being designed by Patrick Tighe Architecture.

Both apartment buildings are slated to open in 2024.

Six Peak Capital's other Los Angeles-area projects include a completed 42-unit apartment building in Melrose Hill and a proposed 110-unit development in Westlake.