Cityview, Wafra JV secures acquisition financing for multifamily property in Los Angeles

A joint venture between Cityview and Wafra secured financing for Silva, a 221-unit, midrise multifamily property located in Los Angeles. Berkadia Irvine, San Diego and Los Angeles secured acquisition financing at TCO on behalf of the joint venture. Berkadia DC Metro also contributed to the financing.

The floating-rate loan was financed through 3650 REIT and facilitated the acquisition of Silva at the receipt of a Temporary Certificate of Occupancy (TCO). Cityview and Wafra began leasing-up the community following closing.

Located at 235 North Hoover St., Silva is a newly constructed 221-unit, class A multifamily community in the Silver Lake neighborhood of Northeast Los Angeles. Situated on a hilltop that provides 360-degree views of the city, Silva is the first institutional-grade multifamily asset of its size delivered in the Silver Lake/Echo Park neighborhoods. With floor-to-ceiling windows, condo-quality finishes and an average unit siz