Irvine-based The Bascom Group has completed an $8.5 million refinancing of a 102-year-old apartment building near Downtown Los Angeles.
Built in 1924, the four-story, 133-unit Charleston Apartments is located at 729 S. Union Ave. in Los Angeles’ Westlake neighborhood. Each micro-unit is 200 square feet.
Marcus & Millichap Capital Corp.’s Michael Derk, Daizy Gomez, Linsey Farrahi and Zack Metzner arranged the debt financing. CalPrivate Bank provided the loan.
The loan terms were not disclosed.