Financing strengthens Class A mixed-use property in one of Los Angeles County’s most dynamic markets.
New York, NY — December 1, 2025 — Lument today announces the closing of a $74 million Fannie Mae conventional multifamily loan to refinance Astra Apartments, a 243-unit, class A mixed-use property in Inglewood, California. Lument’s Chicago-based managing director, Ted Nasca, led the transaction.
“Astra Apartments is an exceptional property in a market experiencing tremendous growth, and we were proud to help Black Equities strengthen its long-term position there,” said Lument’s Nasca. “Fannie Mae’s execution allowed us to deliver a highly competitive solution that met the sponsor’s goals and ensured a seamless transition from construction financing to permanent debt.”
Black Equities is a private real estate firm that was founded in 1989 by Stanley and Jack Black. The firm currently owns 2,500 apartment units and over 12 million square feet of commercial and industrial space across the United States.
“We are so grateful to the Lument team and Fannie Mae,” said Zachary Black, CEO of Black Equities. “The refinance allowed us to pay off our construction loan and secure additional funds to continue to enhance the tenant experience at the property. Ted Nasca and his leadership made the process an easy and pleasant experience.”
The fixed-rate Fannie Mae loan was structured with a five-year term, full interest only, and provided cash-out proceeds.
Built in 2023, Astra Apartments is a mid-rise building consisting of market-rate apartment units and approximately 50,000 square feet of commercial space on the ground floor anchored by Target. The transit-oriented development is located directly across the street from the Downtown Inglewood station on the K Line of the Los Angeles Metro Rail. The property features 24 studio units, 164 one-bedroom units, 50 two-bedroom units, and five three-bedroom units. Amenities include a fitness studio, pool, community lounge, screening room, and pet park.
About Lument
Lument, a subsidiary of ORIX Corporation USA, is a national leader in commercial real estate finance and delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument offers Fannie Mae, Freddie Mac, FHA, USDA, and balance sheet financing, as well as a full suite of capital market lending products. In addition, Lument provides a suite of real estate advisory solutions including real estate investment sales, investment banking, and investment management solutions. The company has 500+ employees in over 30 offices across the United States. Securities, investment banking, and advisory services are provided through Lument Securities, LLC, member FINRA/SIPC. Lument Investment Management, LLC, is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit https://www.lument.com/.
