$15.45M financing secured for South Los Angeles modular multi-housing development

IRVINE, Dec. 19, 2023 – JLL Capital Markets announced today that it has arranged the first lien construction financing for 6100 Main, an 87-unit, multi-housing community located in Los Angeles, California.

JLL worked on behalf of the borrower, SoLa Impact, to secure the construction loan with a regional bank.

Located within a Qualified Opportunity Zone, the project is designed as a four-story podium that will utilize modular unit construction. The community will be developed on a 0.52-acre site, and upon completion, it will consist of 87 one-bedroom units with stainless steel appliances, well-appointed kitchens, engineered wood floors and soft-close cabinets. Community amenities will include a community room, a spacious roof deck, a ground-floor garage and secure bicycle parking.

Situated at 6100 S. Main St., the project’s central location at the southeast corner of S. Main Street and 61st Street in the Greater Inglewood submarket of Los Angeles offers residents direct access to the Interstate-110 ramps and three bus lines that stop at the corner of S. Main Street and 61st Street, directly in front of the community. Several grocery stores are within a ten-minute walk from the site, including Food4Less, Northgate Market and Superior Grocers. Future residents will also be just a 15-minute drive to both LAX and downtown L.A. Additionally, nearby developments include the brand new LAFC soccer stadium, the future George Lucas Museum of Narrative Arts at Exposition Park, the USC Village and the renovation of the Los Angeles Memorial Coliseum.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Greg Brown, Director Charlie Vorsheck, Director Kellan Liem and Analyst Allie Black.

“We are extremely pleased to have sourced a new lender relationship for our client that could finance a modular construction loan in the current banking environment. More importantly, we are thrilled to contribute to SoLa’s goal of providing high quality affordable housing in low-income communities,” said Brown.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.

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