Low Tide Properties and Continental Properties, LLC have secured $110 million to refinance Met Tower, a high-rise residential development located in Downtown's Denny Triangle neighborhood, Cushman & Wakefield announced this week.
Completed in 2001, the building at 1942 Westlake Avenue includes 366 luxury apartments in studio, one-, and two-bedroom floor plans. An eight-level garage and 10,139 square feet of retail space are located at the base of the tower.
Cushman & Wakefield's Dave Karson, Alex Hernandez, Chris Moyer, Alex Lapidus and Meredith Donovan represented Low Tide Properties and Continental Properties in the deal, with Citibank providing the loan.
“Capital is still very much available today for the right deals, and multifamily continues to be one of the bright spots,” said Karson in a news release. “Many lenders and investors recognize that despite all of the recent conversation around remote work, living close to employment centers becomes particularly appealing in volatile labor markets.”