Developers secure $40 million loan for Del Rey apartments under construction
The project will bring 49 units to 4339 and 4367 Berryman Avenue
By Dolores Quintana
Del Rey will soon have two new multi-family developments since Six Peak Capital and Grandview Partners acquired the $40 million construction financing needed to build the project, as reported by Urbanizing Los Angeles. They will be located at 4339 and 4367 Berryman and are expected to be completed in 2024.
The site is located at 4339 and 4367 Berryman Avenue and would include 49 apartments which would then be divided into 282 en-suite living units. Way Capital Founder and Managing Director Malcolm Davies said via press release: “Ensuite living projects are a modern solution to the housing shortage and availability crisis. This project offers a beautiful living environment in Mar Vista, a neighborhood sought after by Millennials and Gen Z.”
The complex would consist of two four-storey buildings comprising three-, four- and five-bedroom apartments. Depending on the number of bedrooms in each unit, the square footage can range from 1,297 to 2,204 feet. Each unit would be furnished with a washer and dryer, wood flooring, and stainless steel appliances according to Urbanize Los Angeles.
4339 Berryman is designed by The Albert Group Architects and 4367 Berryman is designed by Patrick Tighe Architecture. The plans for the building call for recreation rooms and roof terraces as amenities.