IPA Capital Markets Secures $44M LA Multifamily Financing at 5.40%–5.60%
IPA Capital Markets secured $44M financing for two LA multifamily properties: $28.3M for 126-unit Moderno Axis and $15.7M for 54-unit Moderno La Granada Hills. Five-year non-recourse loans carry interest-only terms at 5.40% and 5.60% with step-down prepayment and no origination fees, highlighting lender confidence in these premier LA assets.
1. Financing Structure
IPA Capital Markets arranged two five-year non-recourse loans totaling $44 million for Moderno Axis and Moderno La Granada Hills. The financing features full-term interest-only payments, step-down prepayment options, no lender origination fees and locked rates at 5.40% for Axis and 5.60% for Granada Hills.
2. Property Profiles
Moderno Axis is a 126-unit complex in Van Nuys offering studios, one- and two-bedroom units alongside amenities including a fitness center, pool, jacuzzi spa, dog park and on-site pet grooming. Moderno La Granada Hills comprises 54 units with additional street-level retail near CSU Northridge, featuring in-unit laundry, media room, fire pits, barbecue area and private parking.
3. Strategic Implications
Securing $44 million in competitive financing demonstrates Marcus & Millichap’s capital markets expertise and underscores strong institutional demand for high-quality LA multifamily assets, supporting potential growth in its financing services revenues.