Sunday, April 14, 2024

‘JV Equity Secured for Echo Park Apartment Project’

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JLL Capital Markets recently facilitated a joint venture equity partnership for the upcoming Allesandro Apartments project, a 43-unit multifamily development located in the Echo Park area of Los Angeles. A.J. Khair Construction, Inc. is the sponsor of this project, and JLL Capital Markets worked on their behalf to secure the JV equity partnership.

The specific terms of the transaction remain undisclosed at this time. The equity advisory team from JLL Capital Markets, comprised of senior managing director Jeff Sause, director Chad Morgan, and analyst Jalynn Borders, led the negotiations for this partnership.

Scheduled for completion in 2026, the Allesandro Apartments project will feature spacious one- and two-bedroom units, with an average size of 928 square feet. Positioned at 1667 Allesandro St., the property is situated on the border of the Echo Park and Silver Lake neighborhoods, which are among the most densely populated areas in Los Angeles. The location provides easy access to Downtown, Koreatown, Los Feliz, and major Southern California freeways such as I-5, US-101, and I-110.

The area surrounding the property is rich in cultural amenities, making it an attractive location for residents. This development is poised to offer a high quality of living in one of LA’s premier neighborhoods, with convenient access to key transportation routes and local attractions.

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