Onni Group is actively refinancing its existing and upcoming projects, reflecting its commitment to growth despite challenges in the Downtown Los Angeles office market.
The Vancouver-based firm secured a $240 million construction loan for its 60-story apartment tower in Downtown Los Angeles, indicating confidence in the residential market.
Despite the office market's troubles in Downtown L.A., the residential sector is thriving, with average rental rates increasing by 3% this year.
Recent debt refinancings by Onni include about $300 million for three buildings, demonstrating the firm’s substantial financial maneuvering amidst fluctuating market conditions.
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