July 20, 2024 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Developers Secure $40 Million Loan for Del Rey Apartments Under Construction

Project will bring 49 units to 4339 and 4367 Berryman Avenue

By Dolores Quintana

Del Rey will have two new multifamily developments soon since Six Peak Capital and Grandview Partners acquired the necessary $40 million of construction financing to build the project as reported by Urbanize Los Angeles. They will be located at 4339 and 4367 Berryman and are estimated to be completed in 2024. 

The site is at 4339 and 4367 Berryman Avenue and would consist of 49 apartments that would be further divided into 282 suite living units. Way Capital founder and managing director Malcolm Davies said via a press release, “The suite living projects are a modern solution to the ongoing housing shortage and availability crisis. This project provides a beautiful living environment in Mar Vista, a neighborhood desirable for Millennials and Gen Z.”

The complex would be made up of two four-story buildings that contain three, four and five-bedroom apartments. Depending on the number of bedrooms in each unit, the square footage could range from 1,297 to 2,204 feet. Each unit would come furnished with a washer and dryer, wood flooring and stainless steel appliances according to Urbanize Los Angeles. 

4339 Berryman is being designed by the firm The Albert Group Architects and 4367 Berryman is being designed by the firm Patrick Tighe Architecture. The building’s plans call for recreation rooms and rooftop decks as amenities.

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