Canyon Partners Real Estate LLC (“Canyon”) announced that it has provided two senior bridge loans to refinance two multifamily communities in Los Angeles submarkets: $41.0 million for the refinancing of SaltAire, a 132-unit property located in Torrance; and $38.3 million for the refinancing of Artisan Oaks, a 160-unit property located in Santa Clarita.
SaltAire features a mix of one- to four-bedroom units across six buildings and offers community amenities including a pool, fitness center and lobby that are currently undergoing upgrades. SaltAire benefits from Torrance’s strategic location in the South Bay submarket of Los Angeles, which features a diverse economic landscape with major employers across the healthcare, aerospace, automotive and manufacturing industries.
Artisan Oaks offers a mix of one- and two-bedroom units across seventeen buildings. The property features common area amenities including a pool, children’s playground, a recently-renovated fitness center and a new clubhouse. Artisan Oaks is well-located within Santa Clarita, with convenient access to major freeways and employers as well as nearby retailers and shopping destinations.
Canyon is actively expanding its deployment of bridge debt capital on commercial real estate assets in primary and secondary markets across the United States. Since its inception, Canyon has invested over $1.1 billion of debt capital across 40 transactions, capitalizing $2.3 billion of total projects across all asset types in California.
Founded in 1991, Canyon Partners Real Estate LLC (“Canyon”) is the real estate direct investing arm of Canyon Partners, LLC, a global alternative asset manager with over $27 billion in assets under management. Over the last fifteen years, Canyon has invested over $7.8 billion of debt and equity capital across 271 transactions capitalizing approximately $28.0 billion of real estate assets, focusing on debt, value add, and opportunistic strategies. With 30+ years of experience, Canyon has established a broad menu of investment capabilities spanning property types, US regions, and project stages (including development, transitional, and distressed/workouts).
