Shopoff Realty Investments Secures $17.815 Million Refinance for Cierra Apartments in Whittier, CA

In 2017, Shopoff acquired a 2.8-acre infill site that included a car wash and industrial buildings. With residential demand continuing to increase in the area, Shopoff saw a multifamily development as a much-needed addition to the community, bringing new housing to the Southeast Los Angeles submarket. Shopoff secured city approval for the multifamily project in 2018. The firm developed the site into Cierra Apartments, a 60-unit boutique apartment complex offering one- and two-bedroom units, which was comp ...