Rescore Property Corp. secured nearly $154 million in construction financing to build a seven-story, Class A multifamily property in Los Angeles.
Dubbed Rise Koreatown, the project will comprise 364 luxury studio and one-bedroom apartments averaging 649 square feet, catering directly to the young professional demographic.
The property will also feature 52,000 square feet of ground floor retail anchored by Korean grocery chain Zion Market.
GlobeSt. says the project is one of many new developments in the Koreatown area, which is experiencing a record number of investment activity. In addition to Rise Koreatown, several office, retail, and hotel deliveries are scheduled for the coming years.
