Monrovia, California, August 12, 2025
News Summary
IPA Capital Markets has secured a $76 million financing package for The Monroe, a mixed-use development in Monrovia, California. The project includes 232 residential apartments and retail space, aimed at enhancing urban living. Set to be completed by September 2025, this large-scale development emphasizes affordability with 25 designated units for low and moderate-income households. It boasts ample parking and various amenities to enrich community life.
$76 Million Financing Secured for The Monroe Development in Monrovia
IPA Capital Markets, a vital division of Marcus & Millichap, has successfully arranged a substantial financing deal amounting to $76 million for The Monroe, an upcoming mixed-use development located at 127 West Pomona Ave. in Monrovia, California. This ambitious project, which is currently under construction, aims to combine both multifamily living and retail spaces while adhering to a transit-oriented design.
Scheduled for completion in September 2025, The Monroe is set to feature a total of 232 residential apartments, catering to a variety of lifestyles with units ranging from cozy studios to spacious three-bedroom offerings. Notably, 25 units will be designated as affordable housing, specifically aimed at accommodating very low- and moderate-income households.
The development will also include approximately 7,050 square feet of ground floor commercial space, enhancing the urban landscape while providing local businesses with the opportunity to thrive. With a total of 302 residential parking spaces and 85 public parking spaces, The Monroe is geared to offer convenience for both residents and visitors alike.
Enhancing the living experience, the project boasts a variety of amenities that residents can enjoy, such as a well-equipped gym, a refreshing swimming pool, relaxing spa facilities, a clubhouse, a barbecue area, and a rooftop patio perfect for gatherings. The addition of conference and meeting rooms also makes it easier for residents to work from home or hold events.
Financial Details and Support
The financing arrangement is not only notable for its size but also for offering competitive and flexible loan terms. These terms are designed to facilitate the construction process and the eventual leasing of the units. Specific financial arrangements include increased support for lease-up soft costs, a decrease in the spread upon reaching 25% occupancy, and an earnout advance once the development stabilizes.
Stefen Chraghchian, a senior director at IPA Capital Markets’ Encino office, played a crucial role in securing this financing in collaboration with Adept Urban Development and Affinius Capital. This partnership signifies a robust investment into the community and aligns with IPA Capital Markets’ broader vision to support significant projects across the industry.
About Marcus & Millichap
Marcus & Millichap has established itself as a leader in commercial real estate investment sales, financing, research, and advisory services. In 2024, the firm impressively closed 7,836 transactions, achieving a total sales volume of approximately $49.6 billion. With over 1,700 professionals operating from more than 80 offices throughout the United States and Canada, Marcus & Millichap continues to be a formidable force within the capital markets.
Conclusion
The Monroe’s mixed-use development promises to significantly enhance Monrovia’s community by providing housing options alongside commercial space. As the project moves forward towards its completion date in 2025, the financing secured reflects confidence in the area’s potential for growth and development. This initiative exemplifies how strategic partnerships and thoughtful planning can contribute to sustainable urban development.
Frequently Asked Questions
What is The Monroe development?
The Monroe is a mixed-use development consisting of residential apartments and commercial spaces located in Monrovia, California.
How many residential units will The Monroe feature?
The development will include a total of 232 residential apartments, ranging from studio units to three-bedroom apartments.
When is the completion date for The Monroe?
The project is scheduled for completion in September 2025.
What amenities will be available at The Monroe?
Residents can look forward to amenities such as a gym, swimming pool, spa, clubhouse, rooftop patio, and conference rooms.
What type of financing was secured for The Monroe?
IPA Capital Markets arranged $76 million in construction financing with competitive and flexible loan terms to support the project.
Key Features of The Monroe Development
| Feature | Description |
|---|---|
| Location | 127 West Pomona Ave, Monrovia, California |
| Total Financing | $76 million |
| Residential Units | 232 apartments (studios to three-bedroom) |
| Affordable Units | 25 units for very low- and moderate-income households |
| Commercial Space | Approximately 7,050 square feet |
| Parking Spaces | 302 residential and 85 public parking spaces |
| Amenities | Gym, pool, spa, clubhouse, rooftop patio, and meeting rooms |
| Completion Date | September 2025 |
Deeper Dive: News & Info About This Topic
Additional Resources
- Business Wire: IPA Capital Markets Arranges $76M Financing
- GuruFocus: IPA Capital Markets Arranges $76M Financing
- Connect CRE: Trammell Crow Opens Latest Alexan Project
- Wikipedia: Mixed-use Development
- Google Search: Los Angeles multifamily development
Author: Construction CA News
CALIFORNIA STAFF WRITER The CALIFORNIA STAFF WRITER represents the experienced team at constructioncanews.com, your go-to source for actionable local news and information in California and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Rose Parade, Coachella, Comic-Con, and the California State Fair. Our coverage extends to key organizations like the California Building Industry Association and Associated General Contractors of California, plus leading businesses in technology and entertainment that power the local economy such as Apple and Alphabet. As part of the broader network, including constructionnynews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic landscape across multiple states.
