LOS ANGELES--(BUSINESS WIRE)--Christina Development Corporation (“Christina”), through its private equity real estate company Christina Real Estate Investors 4, LLC (“Christina 4”), has secured a $1.16 million loan from Citizens Business Bank to refinance 1128 Larrabee, a recently acquired, fully occupied, six-unit multifamily apartment project located north of the world-famous Sunset Strip in West Hollywood.
Christina 4 acquired 1128 Larrabee in November 2022 for $2.45 million in partnership with Silver Creek Commercial Development (“Silver Creek”). The three-story building is situated on an approximately 6,976-square-foot lot and is adjacent to 1120-1124 Larrabee Street, another partnership-sponsored development project that will soon encompass 22 luxury residences designed by renowned architectural firms Gruen Associates and Marmol Radziner.
“Our excellent reputation in the industry coupled with our long-standing relationship with Citizens Business Bank facilitated this attractive loan, especially given the current state of the market,” said Vincent Chan, Chief Operating Officer at Christina.
Christina Real Estate Investors’ (“CREI”) programmatic series of private equity real estate companies offers accredited investors the opportunity to participate in the ownership of high-quality real estate exclusively located in the best submarkets in the Westside region of Los Angeles. By acquiring, improving, and operating a diversified portfolio of investment-grade properties, Christina’s primary objective is to achieve superior long-term, tax-advantaged returns.
The company’s current private equity company offerings, Christina 5 Wealth Builder and Christina 5 Income Builder, are strategically positioned to benefit from distressed acquisition opportunities and are operating and open for participation by accredited investors and members seeking to take advantage of a new wave of opportunities during this next real estate cycle.
To learn more about Christina, visit christinala.com.
This release is not an offer to sell or a solicitation to purchase securities, and shall not constitute an offer, solicitation, or sale in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful. Any offering by Christina 5 Wealth Builder and Christina 5 Income Builder will be made only in accordance with the terms and conditions set forth in the Private Placement Memorandum. Investment in real estate involves the risk of loss. Past performance is not a guarantee of future results.
About Christina
Christina is a Malibu-based real estate developer, manager, & sponsor founded in 1977. For 45+ years the firm has sponsored investments in the Westside Region of Los Angeles, primarily via eight submarkets including Beverly Hills, Brentwood, Century City, Malibu, Santa Monica, Silicon Beach, West Hollywood, & Westwood. Christina provides accredited investors with the opportunity to participate in the ownership of select investment properties in these ultra-prime neighborhoods. The firm has been featured in Bloomberg, Forbes, Los Angeles Times, & Yahoo Finance. To learn more, visit ChristinaLA.com.
