Shopoff Realty Investments Secures $17.815 Million Refinance for Cierra Apartments in Whittier, CA

Rhea-AI Summary

BrightSpire Capital (NYSE: BRSP) provided a $17.815 million senior mortgage for Cierra Apartments, a 60-unit multifamily property in Whittier, California, financed through a Shopoff Realty Investments project refinance dated Dec. 2, 2025. The loan was brokered by JLL Capital Markets and advised by Jamie Kline and Kyle White.

Cierra Apartments, developed on a 2.8-acre infill site acquired in 2017, completed in 2023 and is currently 91% leased. Shopoff says the refinance gives management additional flexibility to operate the stabilized asset and prepare it for sale.

Insights

Real Estate Finance Analyst

Refinance secures liquidity on a stabilized 60-unit asset, improving operational flexibility and signalling a path toward sale.

Shopoff Realty Investments obtained a $17.815 million senior mortgage from a finance subsidiary of BrightSpire Capital, brokered by JLL Capital Markets. The loan attaches to Cierra Apartments, a 60-unit boutique multifamily property completed in 2023 and currently 91% leased. The company states the refinance will provide added flexibility to manage cash flows and prepare the project for sale.

The business mechanism is straightforward: refinancing a stabilized asset converts existing capital structure into new debt, typically to lower servicing cost, return equity, or fund operations ahead of disposition. Key dependencies are the asset’s occupancy and cash flow, both cited in the release as stable (91% leased and full initial lease-up), and the availability of capital from the identified lender.

Risks include no disclosed loan terms in the release (rate, maturity, covenants), which prevents assessment of refinancing economics or refinancing-related constraints. The announcement does not state a sale timeline or expected proceeds, so the practical impact on portfolio returns remains unspecified. Monitor any future disclosures that provide loan terms or an announced sales timetable to judge financial effect more precisely; near-term updates from the borrower or lender will be the most informative.

WHITTIER, Calif., Dec. 2, 2025 /PRNewswire/ -- Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, announced today that it has secured $17.815 million in senior mortgage financing for its 60-unit multifamily property, Cierra Apartments, in Whittier, California. A finance subsidiary of BrightSpire Capital (NYSE: BRSP) provided the senior loan brokered by JLL Capital Markets.

"When we first acquired the site in 2017, our firm began exploring how we could elevate the former industrial property to its full potential, positively impacting the surrounding community. In the years since we developed Cierra Apartments, this project has been successfully completed and stabilized, achieving full lease up within its first year," said Shopoff Realty Investments President and CEO William A. Shopoff. "With this refinance in place, our management team is now better positioned to operate Cierra Apartments, providing us additional flexibility to manage cash flows and prepare the project for sale."

In 2017, Shopoff acquired a 2.8-acre infill site that included a car wash and industrial buildings. With residential demand continuing to increase in the area, Shopoff saw a multifamily development as a much-needed addition to the community, bringing new housing to the Southeast Los Angeles submarket. Shopoff secured city approval for the multifamily project in 2018.

The firm developed the site into Cierra Apartments, a 60-unit boutique apartment complex offering one- and two-bedroom units, which was completed in 2023. The property features upscale amenities, including a clubhouse, fitness center, pool, and spa. The community also provides convenient access to some of Los Angeles' most vibrant employment centers and major transportation corridors. The property is currently 91% leased.

Financing for the project was secured with support from JLL Capital Markets. The JLL Capital Markets debt advisory team representing the borrower was led by Senior Director Jamie Kline and Associate Kyle White.

About Shopoff Realty Investments

Shopoff Realty Investments is an Irvine, California-based real estate firm with a 33-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties, the entitlement of land assets, and development projects. The 33-year history includes operating as Asset Recovery Fund, Eastbridge Partners, and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.

Disclosures

This is not an offering to buy or sell any securities. Such an offer may only be made through the offering memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities are offered through Shopoff Securities, Inc. member FINRA/SIPC, 18565 Jamboree Road, Suite 200, Irvine, CA 92612.

Contact:
Jill Swartz 
Spotlight Marketing
Communications
949.427.1389
jill@spotlightmarcom.com

 

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SOURCE Shopoff Realty Investments

FAQ

What refinancing did BrightSpire Capital (BRSP) provide on Dec. 2, 2025?

BrightSpire Capital provided a $17.815 million senior mortgage for Cierra Apartments in Whittier, CA.

How large is Cierra Apartments and when was it completed?

Cierra Apartments is a 60-unit boutique multifamily property completed in 2023.

What is the current occupancy of Cierra Apartments mentioned in the Dec. 2, 2025 announcement?

The property is currently reported as 91% leased.

Who brokered the Cierra Apartments loan and which advisors represented the borrower?

JLL Capital Markets brokered the loan; JLL's debt advisory team was led by Jamie Kline and Kyle White.

Why did Shopoff Realty Investments say it completed the refinance for Cierra Apartments?

Shopoff said the refinance provides additional flexibility to manage cash flows and to prepare the stabilized project for sale.