Los Angeles multi-housing project secures joint venture equity
JLL Capital Markets arranged the joint venture equity for the 43-unit Allesandro Apartments project in Los Angeles, California
LOS ANGELES, March 4, 2024 – JLL Capital Markets announced today that it has arranged a joint venture equity partnership for Allesandro Apartments, a to-be-built, 43-unit multi-housing project in the Echo Park neighborhood of Los Angeles, California.
JLL represented the Sponsor, A.J. Khair Construction, Inc., to arrange the joint venture equity partnership.
With an anticipated completion of 2026, the project will consist of large one- and two-bedroom units, averaging 928 square feet. Situated at 1667 Allesandro St., the property is strategically positioned on the border of the burgeoning Echo Park and Silver Lake neighborhoods, two of Los Angeles’ densest neighborhoods nestled between Downtown and Koreatown to the south and Los Feliz to the north. The property is surrounded by an abundance of cultural amenities, including an array of trendy entertainment venues, restaurants and a flourishing arts scene, drawing in a diverse mix of long-time residents and a fresh influx of young professionals. Residents will also benefit from its location between three of Southern California’s major arterials, including I-5, US-101 and I-110.
The JLL Capital Markets Equity Advisory team was led by Senior Managing Director Jeff Sause, Director Chad Morgan and Analyst Jalynn Borders.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About A.J. Khair Construction, Inc.
Founded in 2004, A.J. Khair Construction, Inc. is a Southern California based real estate development and construction firm specializing in multifamily, lodging, and commercial mixed-use developments including hotel rooms, retail space, and residences. A.J. Khair’s experience not only as a developer but also as a contractor provides the distinct advantage of identifying, planning and constructing projects that are on-time and cost effective. The company takes pride in crafting real estate developments distinguished by their high-quality design and construction. To uphold their reputation, they collaborate closely with city officials, renowned architects, and handpicked subcontractors, ensuring the delivery of extraordinary products.