Downtown LA is showing no signs of slowing down as DHG Family Trust just secured a $23.6M construction loan from Opus Bank for a mixed-use development at 1400 Figueroa St.
The project would include 110 luxury apartments and 1,400 SF of ground-floor retail. DHG Family Trust closed the three-year loan at 3.5% above Libor, according to The Real Deal.
The development would be two blocks south of Staples Center.
Quantum Capital Partner's Jonathan Hakakha and Pacific Southwest Realty Service's Mike Tanner arranged the financing. [TRD]
