Oaktree Lends $125M on Downtown Glendale Apartments
JLL Capital Markets said Tuesday it had secured a $125-million financing for TenTen Campus, a newly built 228-unit Class A multifamily asset located in downtown Glendale. Senior managing director Chris Gandy and directors Ethan Habecker and Max Mraz represented the borrower, Amidi Real Estate Group, in securing a loan through Oaktree Capital Management.
The property is located at 414 N. Orange St. in downtown Glendale, near major employment centers as well as retail destinations such as Americana at Brand. It obtained its temporary certificate of occupancy in November 2024, with move-ins beginning in February of this year. Amidi achieved 95% occupancy at TENTEN Campus prior to the transaction closing.
“TENTEN Campus represents the newest Class A inventory in a supply-constrained market with strong fundamentals,” said Gandy. “The property’s premium location in downtown Glendale, combined with its high-quality construction and amenity package, positions it well to achieve full stabilization.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout