Institutional Property Advisors, a division of Marcus & Millichap (MMCC) has arranged $79.225 million in acquisition financing for Evolve South Bay, a 300-unit, 25-building multifamily property located at 285 East Amo Blvd. in Carson, California. The property consists of 301,302 rentable square feet. The financing was secured by Brian Eisendrath, executive managing director, and Cameron Chalfant, senior managing director, based out of MMCC’s Los Angeles office.
“Given the volatility in the capital markets, we were able to navigate across all lender types to deliver an execution that yielded the highest return to investors,” said Eisendrath.
The 10-year loan includes a seven-year, interest-only term. Built in 2021, the property includes an attractive mix of one-, two- and three-bedroom units and amenities including a resort-style pool and spa with cabanas, fitness studio, running track, coworking spaces, dog parks and a two-story clubhouse with kitchen, among others. Evolve South Bay also offers 5,000 square feet of meeting rooms, nine rentable offices and three indoor-outdoor open social spaces.
