Park La Brea Closes on 7M Loan

The largest apartment community on the West Coast has received a $947 million loan. Newmark Group Inc. represented borrower Prime Residential in th...

July 5, 2023
6:28 AM

The largest apartment community on the West Coast has received a $947 million loan. Newmark Group Inc. represented borrower Prime Residential in the loan for the Park La Brea apartments. The financing will allow the company to retire its existing debt and is being secured by Freddie Mac's K-Deal program. Newmark's Mitch Clarfield, Ramsey Daya, Chris Moritz and Alec Newman led the financing. The Park La Brea, which sits at 6200 West Third St. near The Grove, has 4,249 units spread across 18 high-rise towers and 175 garden-style buildings.

James Brock