LOS ANGELES, CA – Optimus Properties, LLC, a Century City based real estate company, has expanded its footprint in Southern California with a 100-condominium unit acquisition in Van Nuys valued at approximately $21 Million.
Optimus has been deploying capital in larger assets located near major employment centers in greater Los Angeles, including the recent buy of a 38-unit apartment building in Ancient Town Pasadena. But with recent events transpiring from the continued disruption caused by Covid-19.
Joseph Shabani, Principal at Optimus, described the transaction as “a direct result of the team’s ability to both identify value and leverage our relationship with First Republic Bank, to secure an above average yield in a competitive buyer landscape.”
Shabani believes this asset has institutional quality to its charm, with an array of exit strategies. The acquisition, comprised of 100 condominium units, is part of a larger, 161-unit condominium complex.
“We are very excited about our newest acquisition. We were most drawn to the size and resort vibe of the property.” Kamyar Shabani, principal at Optimus, said.
A recent National Multifamily Housing Council report found that 84 percent of apartment households made a full or partial rent payment by April 12th; highlighting the firm’s conviction in the security of multifamily assets driven by strong employment hubs and rental collections.
“Given the asset’s convenient location to the 405 freeway, in addition to its comparatively low price point for the Southern California region, we believe there is significant upside to the deal in the long-term,” said Kamyar Shabani. He notes that “the asset is well-positioned for investors looking to find security amidst market uncertainty and volatility.”

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NEW ORLEANS, LA – Walker & Dunlop, Inc. announced that it structured $23,020,000 in permanent financing for The Reveal, a 150-unit affordable housing development that will be constructed utilizing four percent Low Income Housing Tax Credits. Further, the Housing Authority of New Orleans has committed to providing Project-Based Vouchers for all 150 units at the site.
Located in Eastern New Orleans, Louisiana, the property is within the bounds of a designated opportunity zone census tract. Established by Congress in the Tax Cuts and Jobs Act of 2017, opportunity zones encourage long-term investments in designated low-income areas by offering incentives in the form of lower or deferred capital gains taxes. The project is also expected to have a significant impact on the revitalization of the surrounding area, which was deeply impacted by Hurricane Katrina and has experienced a slow recovery.
Walker & Dunlop Senior Director Heather Olson identified Freddie Mac’s Tax Exempt Loan Forward Commitment as the ideal program for the developer, Commonwealth Companies, who was ranked a Top 50 Affordable Housing Developer in 20191. Olson’s team coordinated several different parties to structure the complex affordable financing transaction; in addition to Freddie Mac, the team partnered with the construction lender, Sterling Bank, and the tax credit equity partner, National Equity Fund, as well as the Louisiana Housing Corporation and the Housing Authority of New Orleans. Throughout the assignment, the team also worked to ensure the financing terms were consistent with opportunity zone guidance.
“Commonwealth is thrilled to get this vital project started in Eastern New Orleans,” shared Dan Kroetz, Senior Vice President of Development at Commonwealth Companies. “Our experience with Walker & Dunlop was extremely efficient and the flexibility that Heather Olson and her team showed with this complex transaction was first rate.”
Ms. Olson commented, “Walker & Dunlop is honored to be a part of this fantastic team and to help develop 150 affordable housing units that will be vital to the redevelopment of Eastern New Orleans. Having a strong partner in Freddie Mac allowed us to creatively structure permanent financing that fits well with the four percent LIHTC structure. We are excited for Commonwealth to expand their presence in New Orleans and are thankful for this partnership.”
Once complete, The Reveal will comprise two four-tale apartment buildings with units ranging from one- to four-bedrooms, each with a balcony. Community amenities will include a leasing office, conference rooms, a community room with patio, a fitness center, and a physical therapy room. The Reveal will also include approximately 1,745 square feet of space for an on-site Business Incubator, a community service facility developed as a neighborhood resource. The facility caters to residents, both on-site and within the surrounding neighborhood, who are interested in building small businesses for self-sufficiency.

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DALLAS, TX – Gardner Capital, a family-owned private equity firm specializing in multifamily housing and renewable energy development and investment, recently completed the Alameda View Apartments, a new affordable housing complex in Aurora, Colo.
Gardner Capital developed the Alameda View Apartments in partnership with the City of Aurora; CHFA provided low-income housing tax credit for the project, as well as lender Citibank and tax equity partner Stratford Capital Group. Arco Construction served as general contractor for the project. In addition, Gardner partnered with Denver Urban Gardenswith a focus on supporting sustainable agriculture and community building.
“As the need for affordable housing continues to grow, we are honored to make high-quality, versatile living spaces that are convenient to work, transportation and the best of Aurora,” said Michael Gardner, President and CEO of Gardner Capital. “Our team of partners came together seamlessly to expand local affordable living options.”
Located at 15501 E. Alameda Pkwy., the apartments delight in walking trails and close proximity to public transportation. The 116-unit mid-rise complex includes 20 one-bedroom apartments, 60 two-bedroom apartments and 46 three-bedroom apartments. Ross Management serves as property manager for the Alameda View Apartments.

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