Marcus & Millichap Capital Corporation (MMCC) announced that it arranged $85 million in construction financing for the development of a 297,771-square-foot mixed-use project at 55 North La Cienega Boulevard in Beverly Hills, California.
The financing was secured by Sharone Sabar, executive managing director in MMCC’s Encino office, on behalf of a private investor through a national banking institution. The four-year construction loan was structured at 65% loan-to-cost.
The six-story development will transform a commercial property acquired by the sponsor in October 2014 into a mixed-use complex featuring 140 luxury multifamily residences and 13,303 square feet of ground-floor retail space. The project has undergone more than a decade of entitlement and planning efforts and, upon completion, is expected to become the largest residential complex in Beverly Hills’ history.
Located along the La Cienega corridor, the development offers access to major destinations including The Grove, Beverly Hills’ Golden Triangle, Santa Monica Boulevard, and transportation routes throughout Los Angeles.
The property will include a three-level underground parking structure with 177 spaces, community gathering areas, and a wide range of amenities. Planned features include a rooftop deck with a resort-style pool, restaurant and bar, coffee shop, recreation lounge, theater, wet and dry saunas, conference facilities, private workspaces, and a communal kitchen.
The development will also include affordable housing components, with 11 units designated for low-income households and another 11 units reserved for moderate-income households.
Marcus & Millichap Capital Corporation, a subsidiary of Marcus & Millichap, closed 1,659 transactions totaling $11.9 billion in 2025. Parent company Marcus & Millichap completed 8,818 transactions with a sales volume of $50.8 billion during the year.
KEY QUOTES:
“Securing financing for a project of this scale and complexity in Beverly Hills reflects not only the strength and vision of the sponsorship team, but also lender confidence in the long-term fundamentals of the market. This development has been years in the making and will deliver much-needed housing, vibrant retail offerings, and an exceptional living experience in one of the most prestigious residential markets in the country. Upon completion, it is expected to be the largest residential complex in Beverly Hills’ history, creating a transformative addition to the city’s landscape.”
Sharone Sabar, Executive Managing Director, Marcus & Millichap Capital Corporation
“The project will transform a long-held commercial site into 140 luxury multifamily residences and 13,303 square feet of ground-floor retail in one of Southern California’s most sought-after and supply-constrained markets. The sponsor acquired the property in October 2014 and spent more than a decade navigating the entitlement and planning process to bring the project to fruition.”
Sharone Sabar, Executive Managing Director, Marcus & Millichap Capital Corporation
“As capital markets continue to favor clarity of execution and long-term value, transactions like this underscore the importance of patience, sponsorship quality, and strong lender alignment in advancing complex developments in competitive markets.”
Sharone Sabar, Executive Managing Director, Marcus & Millichap Capital Corporation
