Curated News
By: NewsRamp Editorial Staff
October 28, 2025
$28M Loan Fuels 92-Unit West LA Apartment Development
TLDR
- Priority Capital Advisory secured a $28 million loan for CityPads to develop a 92-unit apartment project in a prime West Los Angeles location, offering competitive rental rates below market.
- The $28 million senior debt financing arranged by Priority Capital Advisory will fund construction of a 92-unit mixed-income apartment property in West Los Angeles with completion expected in late 2026.
- CityPads' new development brings much-needed affordable and market-rate housing to West Los Angeles, creating walkable, amenity-rich living options near major employers and transit.
- The Helms Place development features a rooftop deck with 360-degree views, coworking spaces, and walking access to Culver City's arts district and major studios like Apple and Sony.
Impact - Why it Matters
This development addresses Los Angeles' critical housing shortage by adding much-needed rental inventory in one of the city's most supply-constrained markets. The project's strategic location near major employers like Apple, Amazon, and Sony provides essential housing options for workers in the region's booming tech and entertainment industries. By offering both market-rate and affordable units with premium amenities at below-market rents, it helps alleviate the affordability crisis while creating walkable, transit-oriented living options. The successful financing despite Measure ULA challenges demonstrates continued investor confidence in Los Angeles' housing market and signals potential for more development in under-supplied neighborhoods.
Summary
Priority Capital Advisory has successfully arranged a $28 million senior debt loan to finance CityPads' development of a 92-unit apartment property at 8931-8945 Helms Place in West Los Angeles. The financing was brokered by Zachary Streit, Founder and President of Priority Capital Advisory, alongside Lucas Borges of JLL, marking CityPads' inaugural development in the greater Los Angeles area. This transaction represents a significant achievement in a challenging market environment where few market-rate projects are breaking ground due to Measure ULA, highlighting the project's unique appeal to lenders and its strategic importance in addressing Los Angeles' housing shortage.
The development will feature a carefully planned unit mix including 38 studio units (33 market rate, 5 affordable), 53 one-bedroom units (47 market rate, 6 affordable), and one affordable three-bedroom unit. Residents will enjoy premium amenities such as coworking space, private patios, on-site parking, high ceilings with abundant natural light, and a fully built-out roof deck offering 360-degree views. CityPads principals Sandy Albert and Andy Ahitow emphasized their commitment to creating walkable, amenity-rich housing options that are conveniently located near major employers including Apple's new corporate campus, Amazon Studios, and Sony Studios, while offering monthly rents lower than competitive new supply in the West Los Angeles/Culver City market.
The project benefits from its prime location adjacent to Culver City, one of Los Angeles' most under-supplied multifamily submarkets, and proximity to world-class retail, dining, and attractions including the Helms Bakery District, Culver City Arts District, and Ivy Station. The surrounding area's recent rezoning for mixed-use and multifamily development in late 2021 created a rare redevelopment opportunity in this highly sought-after neighborhood. With construction now underway and completion anticipated for late 2026, this project represents just the beginning of CityPads' expansion in Los Angeles, with additional 144-unit projects and more developments planned across the city.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, $28M Loan Fuels 92-Unit West LA Apartment Development
