Affinius Capital LLC said Monday it will invest $54.7 million of preferred equity for the ground-up development of Hillcrest Apartments, a multifamily project located in Thousand Oaks. The preferred equity investment was provided to The Latigo Group. Bank OZK originated the senior loan.
Latigo intends to develop a four-story, Class A multifamily property featuring ground-floor retail and 333 luxury residential units. The project is scheduled for completion in the first quarter of 2028.
Affinius Capital executive director Mario Morales commented, “Hillcrest Apartments will help fill the need for high-quality multifamily properties in a historically supply-constrained market. We are dedicated to beginning our partnership with Latigo, who builds exceptionally high-quality product, and look forward to benefiting from their local expertise in the Thousand Oaks market.”
The financing was arranged by JLL managing director Bercut Smith. The property’s location at the intersection of Hillcrest Drive and Rancho Conejo Boulevard will offer convenient accessibility for tenants, with direct access to US-101.
Rendering courtesy of KTGY Architecture.
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