Berkadia Secures $133M Construction Loan for Mixed-Use Development in Culver City, California
Los Angeles, California – October 20, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it arranged a $132.7 million construction loan for ElevenOneEleven, a mixed-use development with over 300 apartments and retail in Culver City, California.
Senior Managing Director Lou Friedel and Managing Director Keith Rosso of Berkadia Los Angeles arranged the financing on behalf of the development partners, Lincoln Property Company and McCourt Partners.
Bank OZK provided the five-year, floating-rate loan. The financing will support the construction of 344 apartments, including 52 affordable units, along with approximately 2,000 square feet of ground-floor retail and thousands of square feet of open outdoor space. Construction is set to begin in the next several months.
“Securing nearly $133 million in construction financing in today’s environment speaks to the strength of the sponsorship and the fundamentals behind this project,” said Friedel. “Los Angeles County continues to add new apartment supply at a relatively measured pace, while demand is projected to outpace deliveries. Culver City is particularly well positioned, with a deep employment base, strong connectivity and immediate access to the Westside.”
Los Angeles County’s apartment inventory grew just 3.8% over the past five years, and Berkadia’s Mid-Year 2026 Los Angeles Multifamily Market Report projects demand to outpace new supply over the next year. Net absorption of approximately 14,900 units is expected to exceed roughly 11,900 new deliveries.
Located at 11111 Jefferson Blvd., ElevenOneEleven will occupy a 3.43-acre site in a six-story structure. Residences will feature quartz countertops, stainless steel appliances, luxury vinyl plank flooring, walk-in closets, private balconies and smart-home technology. Community amenities will include a resort-style pool courtyard, second-floor outdoor amenity deck, resident clubroom, fitness center, coworking lounge, outdoor kitchen and barbecue area, and pet wash station. The development will also feature structured parking and a ground-floor public plaza along Jefferson Boulevard.
Situated at Jefferson and Sepulveda boulevards near Interstate 405, ElevenOneEleven offers connectivity to major employment hubs throughout Culver City and the Westside, including Playa Vista and Los Angeles International Airport. Major employers in the surrounding area include Sony Pictures Entertainment, Apple, Amazon Studios, Google and Meta. The property is also near Westfield Culver City and a variety of retail and dining destinations.
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