**JLL Secures $20M Refinancing for The Secret at K-Town in Los Angeles**
JLL Capital Markets has arranged a $20 million refinancing package for The Secret at K-Town, a newly completed 39-unit, Class A multifamily property located in the heart of Los Angeles’ Koreatown. The property, originally designed as a condominium development before temporarily shifting to multifamily rentals during construction, will now be converted back to for-sale condominiums.
The financing was arranged by JLL’s Chris Collins, senior director; Brad Vansant, director; and Emily Pohlman, analyst, on behalf of the borrower, Jannone Development. The team secured a floating-rate conversion and sell-out loan through a private lender.
Situated at 3050 W 11th Street, The Secret at K-Town was completed in 2024 and features 46,574 square feet of residential space. The building offers one-, two-, and three-bedroom floor plans outfitted with premium features such as kitchen islands, pantries, balconies, and in-unit laundry.
“This financing allows the sponsor to execute their business plan of converting these luxury apartments back to their original intended purpose as condominiums,” said Collins. “The property’s exceptional location and high-end finishes make it perfectly positioned to meet the growing demand for ownership opportunities in this dynamic neighborhood.”
