JPI lands big loan for South Gate’s first apartment project in 30 years

Jefferson on Imperial will include 244 units on a 4-acre property

Los Angeles /
Aug.August 20, 2019 03:00 PM
JPI CEO Brad Taylor and a rendering of the South Gate project
JPI CEO Brad Taylor and a rendering of the South Gate project

Development firm JPI snagged construction financing for its 244-unit luxury multifamily development in South Gate.

The $80 million in debt will go toward the Jefferson on Imperial, which is now being developed. It will be the first new multifamily construction in 30 years in the South Gate area, according Dekel Capital, the Century City-based firm that arranged the loan. The lender was not named.

Located at 10920 Garfield Avenue, the property spans 4.1 acres, and had previously been a retail center.

The new four-story building will offer a mix of one-, two-, and three-bedroom units. JPI, which has developed 32 multifamily communities in California and Arizona, broke ground in March and expects the initial apartments to be delivered by October 2020.

WHA, a Southern California-based architecture firm with offices in Los Angeles, Orange County and the Bay Area, designed the project. Alliance Residential Company will manage, market and lease the property.

Texas-based JPI has multifamily developments around the country, and at least four in Anaheim, including the 400-unit Jefferson Stadium Park.

Elsewhere in South Gate, Safco Capital recently paid $29.5 million for a shopping center at 5800 Firestone Boulevard. It was owned by Catellus.


Related Articles

arrow_forward_ios
Landlords are organizing a protest around the lack of mortgage relief government policies and the inability to hit tenants with eviction notices.

What do we want? Mortgage relief!: Landlords plan LA protest

What do we want? Mortgage relief!: Landlords plan LA protest
Mike Bannon, California Apartment Association, executive director

Mom-and-pop resi landlords are already struggling

Mom-and-pop resi landlords are already struggling
An illustration of David Lee

A boomtown for a bygone era: Koreatown developers face a reckoning

A boomtown for a bygone era: Koreatown developers face a reckoning
Tani Cantil-Sakauye (Credit: Earl Gibson III/Getty Images)

Landlords sue California over eviction ban

Landlords sue California over eviction ban
Eric Garcetti, Nury Martinez, and Daniel Yukelson (Credit: Marc Flores and Alberto E. Rodriguez via Getty Imahes, Linkedin, and iStock)

LA landlords sue city over residential eviction ban

LA landlords sue city over residential eviction ban
Daniel Yukelson of Apartment Association of Greater L.A. and L.A. City hall (Credit: iStock)

For CA landlords, abysmal is the new normal

For CA landlords, abysmal is the new normal
Daniel Yukelson of Apartment Association of Greater L.A. (Credit: iStock)

Landlords fuming over sexual harassment “reports”

Landlords fuming over sexual harassment “reports”
Kevin Conway, director of acquisitions at IDEAL Capital Group in Clovis (Credit: iStock)

Don’t sound the alarm! CA May rent checks not in freefall

Don’t sound the alarm! CA May rent checks not in freefall
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...