Connected Cos. Secures $27M for SoCal Mixed-Use Development
It's being built at the site of a previous project that was destroyed by a fire.
Connected Cos. has obtained $26.8 million in construction financing for a 63-unit, 136,991-square-foot mixed-use development at 300 E Valley Blvd. in San Gabriel, Calif. The non-recourse bridge loan features a two-year interest-only term.
The property is a redevelopment on the site of a previous mixed-use construction project that was destroyed by fire in June 2023.
Commercial mortgage banking firm Slatt Capital secured the financing from Bayview Asset Management, which will support the planned 2026 completion of the project. Slatt Capital Vice President Jason Wang led the transaction, with Senior Vice President Richard Davidson serving as co-producer.
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300 E Valley Blvd. will be a four-story building above 16,000 square feet of commercial space. The common-area details and unit configurations have not been released.
SoCal multifamily development stays level
At the end of 2025, there were 25,754 multifamily units under construction in Greater Los Angeles, plus an additional 192,000 units in the planning and permitting stages, according to Yardi Matrix, which forecasted that 2026 will likely see a softening in supply.
Developers added 2.3 percent of existing stock last year, which is 70 basis points below the national average but about the same as the metro’s annual performance over the past decade, Yardi Matrix reports.
In March, a joint venture between High Street Residential, a Trammell Crow Co. subsidiary, and Haseko North America broke ground on Jules San Pedro, a 281-unit multifamily project in San Pedro. Previously, the developers took out an $80.8 million construction loan from Sumitomo Mitsui Bank.
In January, JPI broke ground on the 272-unit Portico, a $150 million development in Long Beach, Calif. Tokyo Tatemono US and BMO Bank provided the construction financing for the project.
