Introduction to Helio Group’s Latest Construction Loan
Helio Group scored a $92 million construction loan from Affinius Capital for a residential project in Culver City.
The Los Angeles-based developer secured construction financing for Aston Residences, a 190-unit luxury multifamily property at 10505 Washington Boulevard, Commercial Observer reported.
The eight-story building will include 160 one-bedroom units and 30 two-bedrooms. Residents will enjoy amenities like a fitness room, clubroom, indoor pickleball court, hot and cold plunge pools and an outdoor kitchen. There will also be 5,200 square feet of ground-floor retail. Construction on the Aston Residences is expected to be completed by the first quarter of 2028.
Affinius Capital’s Eric Cohen told the outlet that the project will help meet a demand for “premium housing” in Los Angeles.
Project Details and Location
The project is located in Culver City, which will bolster Helio Group’s multifamily presence in the area.
Last year, the development and management firm bought the Cobalt Apartments for $67.7 million. That 135-unit property at 10601 Washington Boulevard is a block west of the future Aston Residences site.
Helio Group’s other Westside holdings include the 224-unit Archer apartments and the 24-unit Rêve apartments in Brentwood; and the 40-unit Coda apartments in Culver City.
Affinius Capital’s Investment in LA Apartment Developments
Earlier this summer, Affinius Capital invested in another L.A. apartment development.
In June, the San Antonio-based firm shared plans for a $54.7 million preferred equity investment for the Latigo Group’s planned Hillcrest Apartments in Thousand Oaks. The four-story multifamily property at 2150 West Hillcrest Drive will feature 333 one-, two- and three-bedroom units.
Related News
Helio Group buys Culver City multifamily from Greystar for $68M
Hackman, Affinius land $165M refi for Netflix-leased Hollywood studio
Affinius Capital injects $55M investment into Latigo Group housing plans
Conclusion
The construction loan secured by Helio Group from Affinius Capital marks a significant milestone in the development of Aston Residences, a luxury multifamily property in Culver City. With its completion expected in 2028, the project will contribute to the growing demand for premium housing in Los Angeles. The investment also solidifies Helio Group’s presence in the Westside, particularly in Culver City, and demonstrates Affinius Capital’s commitment to supporting high-quality apartment developments in the region.
FAQs
Q: What is the amount of the construction loan secured by Helio Group?
A: $92 million
Q: What is the name of the residential project in Culver City?
A: Aston Residences
Q: How many units will the Aston Residences have?
A: 190 units, including 160 one-bedroom units and 30 two-bedrooms
Q: What are some of the amenities that residents will enjoy?
A: Fitness room, clubroom, indoor pickleball court, hot and cold plunge pools, outdoor kitchen, and 5,200 square feet of ground-floor retail
Q: When is the construction on the Aston Residences expected to be completed?
A: First quarter of 2028
