Truist Provides $152M for Long Beach, Calif., Apartment Development
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Los Angeles is working asset-by-asset through an extended office reset. Hospitality on the West Side and selective industrial in the South Bay are where capital is currently moving; downtown Class B remains in price discovery. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 40th Los Angeles story tracked on the wire in October 2026. All Los Angeles coverage →
- Disclosed multifamily deal value tracked in October 2026: $9.7B across 110 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
Carmel Partners has secured a $152 million construction loan from Truist for a 390-unit multifamily development in Long Beach, Calif., the lender announced Tuesday. The Los Angeles-based development firm is replacing…
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