Jamison Secures $50M Refinance For Koreatown Apartments
Jamison Properties' ground-up Roya Apartments in Koreatown has been refinanced with a $50M loan from Affinius Capital.
The 157-unit project at 760 S. Serrano Ave. opened in 2023, replacing a surface parking lot, according to Commercial Observer.
Affinius Capital announced the financing but didn't disclose the terms.
“The property has already been well received by the market, and we expect it to continue to perform,” Affinius Capital Managing Director Tom Burns said in a statement.
Multifamily properties in Los Angeles held tight at 95.2% occupancy in the second half of 2024, according to a fourth-quarter report from Colliers.
Jamison's adaptive reuse projects are ramping up in Koreatown, with the developer kicking off its 10th such project last fall.
