Ensemble Closes on $28 Million in Financing for a Multifamily building in Downtown Long Beach
Ensemble Real Estate Investments announced the closing of $28 million in financing from Farmers and Merchants Bank and Nationwide Life Insurance for the construction of 442 Residences, a seven-story multifamily building located at 442 West Ocean Boulevard in downtown Long Beach, California. The new 94-unit residential building will share a 1.95 acre campus with 444 West Ocean, a 15-story 188,000 square foot office building and Aroma di Roma café.
The new apartments will feature dramatic ocean, city and port views, high ceilings (approx. 10’), open floor plans, and refined finishes. Amenities will include a rooftop deck, fitness center, dog park and clubroom/lounge. The property is situated directly across Ocean Boulevard from the new $533 million Long Beach Civic Center development, set to house the new City Hall, headquarters for the Port of Long beach and the Main Library. Serenade Modern Flats is slated for completion in the second quarter of 2018.
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