National scope. Local knowledge.

11111 Jefferson

11111 Jefferson

$34,136,000 Acquisition Financing

Culver City, CA | August 2021

Thorofare Capital has funded a $34,136,000 pre-development acquisition loan for the assemblage of 11111 Jefferson, a 3.43-acre triangular shaped development site bounded by Sepulveda Boulevard to the west, Jefferson Boulevard to the east, and Machado Road to the north. The site was previously occupied by the U.S. Post Office, Coco’s restaurant, and Valvoline Instant Oil Change. Upon its future planned construction, the proposed development will aim to deliver a high quality mixed-used asset with a diverse range of residential dwelling types, including market rate and affordable units, and commercial uses.

11111 Jefferson is a planned 5-story mixed-use development providing a mix of retail, office, and residential uses over one subterranean parking level. The project shall have a total building area of 555,221 SF, including all parking areas (subterranean, ground level, and above-ground) and usable building area of 311,109 SF. A total of 653 automobile and 97 bicycle parking spaces shall be provided upon the completion of its planned construction.

Public open-space areas within the Project incorporates seating and support a wide variety of outdoor dining and activities designed to serve project visitors, residents, retailers and restaurants, and the local community. A total of 653 parking stalls are included in the Project, comprising 342 parking stalls below grade, 80 parking stalls on the ground level, and 230 stalls on the second level. The parking on the ground floor and second level shall serve the 66,500 square feet of grocery, office, retail, health/fitness, and restaurant uses of the Project.

The sponsorship includes a joint venture between two investment firms. The first is a Chicago-based experienced owner, operator, and developer of commercial and multifamily properties in primary markets including Los Angeles, Chicago, San Francisco, and Denver. Since inception, the firm has successfully invested through five separate fund vehicles labeled. The second partner is a local owner-operator which has acquired and developed over 4,000,000 SF of mixed-use multifamily, retail and office space.