JLL Capital Markets has successfully secured acquisition financing for Cobalt Apartments, a premier rental property located in Culver City. The property boasts 135 units and includes 14,754 square feet of ground-floor retail space. Led by senior managing director Jeff Sause, director Chad Morgan and analyst Jacob Michael, the JLL team represented the buyer Helio Group in securing a $40 million loan from a regional bank.
According to principal Sam Mostadim of Helio Group, “We are thrilled to expand our portfolio with the addition of Cobalt Apartments in West Los Angeles. This year alone, we will introduce over 300 units to the thriving Culver City market through our nearby Venue Apartments and Arya Apartments projects.” He also mentioned that this acquisition marks an important milestone for their local presence as they continue to seek out newly built Class-A assets within their target markets.
As previously reported by Connect CRE , Greystar was responsible for selling Cobalt and was represented by Kevin Green, Joseph Grabiec and Gregory Harris from Institutional Property Advisors.
This latest transaction showcases JLL’s expertise in arranging financing solutions for multifamily properties across various markets. Stay tuned as they continue to make strides within this sector.
