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Shopoff Realty Investments Secures $17.815 Million Refinance for Cierra Apartments in Whittier, CA
Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, announced today that it has secured $17.815 million in senior mortgage financing for its 60-unit multifamily property, Cierra Apartments, in Whittier, California. A finance subsidiary of BrightSpire Capital (NYSE: BRSP) provided the senior loan brokered by JLL Capital Markets.
About this update from Brightspire Capital, Inc.
[{"type":"text","content":"WHITTIER, Calif., Dec. 2, 2025 /PRNewswire/ -- Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, announced today that it has secured $17.815 million in senior mortgage financing for its 60-unit multifamily property, Cierra Apartments, in Whittier, California. A finance subsidiary of BrightSpire Capital (NYSE: BRSP) provided the senior loan brokered by JLL Capital Markets.","length":459,"tagName":"p"},{"type":"image","alt":"Shopoff Realty Investments","displaySize":"","headline":null,"caption":"Shopoff Realty Investments","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":162,"url":"https://media.zenfs.com/en/prnewswire.com/55655b9ce739e4ca6f79cced27aa2136"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/aFG0usmIhjTEFBbfj7rwEA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI4NjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/55655b9ce739e4ca6f79cced27aa2136","width":400,"height":162}},"href":"https://mma.prnewswire.com/media/455526/SHOPOFF_Realty_Investments.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""When we first acquired the site in 2017, our firm began exploring how we could elevate the former industrial property to its full potential, positively impacting the surrounding community. In the years since we developed Cierra Apartments, this project has been successfully completed and stabilized, achieving full lease up within its first year," said Shopoff Realty Investments President and CEO William A. Shopoff. "With this refinance in place, our management team is now better positioned to operate Cierra Apartments, providing us additional flexibility to manage cash flows and prepare the project for sale."","length":637,"tagName":"p"},{"type":"text","content":"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.","length":379,"tagName":"p"},{"type":"text","content":"The firm developed the site into Cierra Apartments, a 60-unit boutique apartment com...