JLL Capital Markets secured a $20-million refinancing for The Secret at K-Town, a 39-unit, Class A multifamily property located in Los Angeles’ Koreatown neighborhood. The ownership plans to convert the building into for-sale condominiums. Senior director Chris Collins, director Brad Vansant and analyst Emily Pohlman represented the borrower, Jannone Development, in arranging a floating-rate conversion and sell-out loan with a private lender.
The Secret at K-Town, located at 3050 W 11th St. and completed in 2024, offers a mix of one-, two- and three-bedroom floor plans with luxury features including kitchen islands, pantries, balconies and in-unit laundry across its 46,574 square feet. Originally designed as for-sale condominiums before pivoting to multifamily during construction, the property is now returning to its intended use as ownership units.
“This financing allows the sponsor to execute their business plan of converting these luxury apartments back to their original intended purpose as condominiums,” said Collins. “The property’s exceptional location and high-end finishes make it perfectly positioned to meet the growing demand for ownership opportunities in this dynamic neighborhood.”
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