Dekel Capital Arranges $59M for Thousand Oaks Development
The Latigo Group secured the construction loan to develop the city’s first major multifamily project in more than a decade, as part of the Thousand Oaks Boulevard Specific Plan.
LOS ANGELES, CA – Dekel Capital has arranged a $59 million construction loan on behalf of The Latigo Group, to be used for a mixed-use development in Thousand Oaks, CA. The financing was secured from a publicly-traded REIT and a life insurance company.
The project, located at 299 East Thousand Oaks Boulevard, will serve as the city’s first major multifamily development since 2007.
The four-story development will encompass 3.2 acres of land and will include 142 class A apartment units, 9,820 square feet of ground-floor retail and 239 parking spaces, upon completion.
The multifamily aspect of the project will comprise studio, one- and two-bedroom floorplans, and 11 units will be designated as affordable housing. The property’s amenities will consist of a 3,000-square-foot fitness center, a pool, garden courtyards, open outdoor space, keyless entry and remote thermostat control.
The property is located nearby major shopping and entertainment destinations, such as the 1.3 million-square-foot, regional shopping center, The Oaks Mall, as well as the Thousand Oaks Civic Arts Plaza.
The development serves as part of the Thousand Oaks Boulevard Specific Plan, which aims to guide development in creating a 3.5-mile, mixed-use destination between Duesenberg Drive and Moorpark Road. Through the project, the Latigo Group aims to address the area’s imbalance of housing supply and demand.
The Latigo Group, established in 2017, is a privately-owned real estate investment and development company. The Los Angeles-based firm specializes in owning and developing multifamily, mixed-use and student housing properties across the US.
Based in Los Angeles, real estate merchant bank, Dekel Capital offers capital market advisory and private equity expertise to operators, investors and developers.