Los Angeles, CA - The Latigo Group, a leading Los Angeles-based real estate development firm, is proud to announce it has secured a $54.7 million preferred equity investment from Affinius Capital for the development of Hillcrest Apartments, a premier multifamily project in Thousand Oaks, California. This significant financial milestone, coupled with a senior loan from Bank OZK and financing arranged by JLL’s Bercut Smith, marks a major step forward for the project, which is set to redefine luxury living in a supply-constrained market.
Under the leadership of Co-Founder Scott Whittaker, The Latigo Group acquired the 8-acre property at 2150 West Hillcrest Drive from Amgen in 2022 for $25.5 million. The development will transform an underutilized office complex into a state-of-the-art, four-story Class A multifamily property featuring 333 luxury residential units and 6,500 square feet of ground-floor retail space. The project is scheduled for completion in the first quarter of 2028.
“Securing this investment from Affinius Capital is a testament to the strength of our vision and the quality of our developments,” said Scott Whittaker, Co-Founder of The Latigo Group. “Hillcrest Apartments will address the critical need for high-quality housing in Thousand Oaks, offering residents unparalleled amenities and modern living spaces. We are thrilled to partner with Affinius Capital and Bank OZK to bring this project to life.”
Hillcrest Apartments will feature one-, two-, and three-bedroom units averaging 948 square feet, each equipped with balconies, in-unit washers and dryers, upscale cabinetry, quartz countertops, designer lighting, and smart home technology. The development will also offer a rooftop terrace, swimming pool, fitness center, coworking spaces, wellness center, and a multi-sport simulator, creating a vibrant community for residents.
Mario Morales, Executive Director at Affinius Capital, praised the collaboration, stating, “Hillcrest Apartments will help fill the need for high-quality multifamily properties in a historically supply-constrained market. We are dedicated to beginning our partnership with Latigo, who builds exceptionally high-quality product, and look forward to benefiting from their local expertise in the Thousand Oaks market.”
This project marks The Latigo Group’s second multifamily development in Thousand Oaks, following the successful completion of Santal Thousand Oaks in 2023, a 142-unit mixed-use residential property that was only the second of its kind in the city in over 60 years.
About The Latigo Group and Scott Whittaker
Headquartered in Los Angeles’ Sawtelle neighborhood, The Latigo Group is a premier real estate development firm dedicated to creating high-quality, innovative residential and mixed-use projects. With a focus on transforming underutilized properties into vibrant communities, The Latigo Group is committed to excellence and meeting the evolving needs of modern residents.
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