IPA Capital Markets, a division of Marcus & Millichap, has arranged $44 million in financing for two luxury multifamily properties in Los Angeles. The loans were placed on Moderno Axis, a 126-unit apartment community in the Van Nuys neighborhood, and Moderno La Granada Hills, a 54-unit apartment property with additional retail space in Granada Hills.
Moderno Axis, located at 7650 Van Nuys Blvd. in Van Nuys, received $28,305,000 in financing. Moderno La Granada Hills, situated at 17454 Chatsworth St. in Granada Hills, secured $15,725,000. Both assets are described as high-quality multifamily communities with strong property performance, supported by their locations and amenity offerings.
The financing was secured by Anita Paryani-Rice, senior managing director in IPA Capital Markets’ Los Angeles office, working with a national bank on behalf of a private client. The execution consisted of two five-year, fixed-rate, non-recourse loans. Each loan was structured with full-term interest-only payments, step-down prepayment provisions, and no lender origination fees.
Interest rates on the loans were locked at 5.40% and 5.60%, respectively. According to Paryani-Rice, the lender’s underwriting reflected continued demand for well-located, high-quality multifamily properties in Los Angeles and recognized the performance and positioning of both Moderno Axis and Moderno La Granada Hills. That assessment supported the ability to obtain what were characterized as highly competitive loan terms aligned with the private client’s long-term strategy for the portfolio.
The two financings illustrate ongoing engagement from bank lenders for stabilized, upscale multifamily assets in established Los Angeles neighborhoods. By combining non-recourse structures, full-term interest-only periods, and fixed interest rates in the mid-5% range, the loans provide the borrower with predictable debt service while maintaining flexibility through step-down prepayment features. The absence of lender origination fees further enhances the borrower’s effective pricing on the capital stack for these properties.
