A 335 unit luxury apartment building along the 101 Freeway at Topanga Canyon is due to be completed at the beginning of 2020. “The Clarendon” will stand on the 4.3 acre site that once housed the Post Office. It consists of five stories with a six-tier parking structure, pool, spa, and dog park. In addition, 26 out of the 335 units will be reserved for Section 8 tenants. The project is being funded by a $65.7 million construction loan from Chase and $17 million in private equity from Essex Property Trust. Residents and businesses on the street question how the new development will impact the area, especially the traffic, as “The Clarendon” is one of a barrage of new projects coming on-line in the Warner Center area.
Paley Commercial Real Estate is located directly in front of the new complex. This Woodland Hills pocket has undergone tremendous change since we first moved our offices to 22033 Clarendon Street 15 years ago. We purchased the building with the belief that the area’s close proximity to Warner Center would be a sought after location in the future and this proved correct. Like so many of our clients, the building was purchased with an SBA loan with only a 10% down-payment. This type of financing is an excellent vehicle for businesses who would prefer to own rather than rent who a lot of the time will pay close to the same amount for their mortgage as they would for rent.
Allow Paley Commercial Real Estate, with their 30 years of specializing in San Fernando Valley Commercial Real Estate, to assist your business to realize the dream of commercial property ownership. We have access to a variety of lenders who can customize a financing program to suit your individual needs. If you are exploring the purchase of a building to house your company, call 818-225-1300 or Email.