Helio Group Lands Construction Loan for Culver City Apartments

Helio Group scored a $92 million construction loan from Affinius Capital for a residential project in Culver City.

The Los Angeles-based developer secured construction financing for Aston Residences, a 190-unit luxury multifamily property at 10505 Washington Boulevard, Commercial Observer reported.

The eight-story building will include 160 one-bedroom units and 30 two-bedrooms. Residents will enjoy amenities like a fitness room, clubroom, indoor pickleball court, hot and cold plunge pools and an outdoor kitchen. There will also be 5,200 square feet of ground-floor retail. Construction on the Aston Residences is expected to be completed by the first quarter of 2028.

Affinius Capital’s Eric Cohen told the outlet that the project will help meet a demand for “premium housing” in Los Angeles.

It will also bolster Helio Group’s multifamily presence in Culver City.

Last year, the development and management firm bought the Cobalt Apartments for $67.7 million. That 135-unit property at 10601 Washington Boulevard is a block west of the future Aston Residences site.

Helio Group’s other Westside holdings include the 224-unit Archer apartments and the 24-unit Rêve apartments in Brentwood; and the 40-unit Coda apartments in Culver City.

Earlier this summer, Affinius Capital invested in another L.A. apartment development.

In June, the San Antonio-based firm shared plans for a $54.7 million preferred equity investment for the Latigo Group’s planned Hillcrest Apartments in Thousand Oaks. The four-story multifamily property at 2150 West Hillcrest Drive will feature 333 one-, two- and three-bedroom units.— Chris Malone Méndez