GR Properties Secures $62M Bridge Financing for Culver City Multifamily Asset

GR Properties USA has obtained a $62 million bridge loan to refinance Lana, a newly completed residential development in Culver City, California. The financing was provided by Dwight Investment Management, an affiliate of Dwight Capital, and originated by Katie Goldenberg. First Draw Capital’s Antonio Hachem and Kyle Redmond arranged the debt package on behalf of the borrower.

The proceeds will retire existing construction debt and preferred equity while also establishing an interest reserve for the sponsor. Situated at 10375 Washington Boulevard, roughly 11 miles west of Downtown Los Angeles, the seven-story property contains 139 units across a mix of 13 studios, 95 one-bedroom residences, and 31 two-bedroom layouts. The asset also encompasses 2,000 square feet of ground-floor commercial space and amenities including a pool, rooftop lounge, fitness center, coworking areas, and electric vehicle charging stations.

For developers and capital providers, this refinancing illustrates the ongoing availability of bridge capital to take out higher-cost construction debt and stabilize newly delivered urban infill multifamily assets.