NoHo Commons, a mixed-use development in North Hollywood, California, involved substantial financing and development phases. A significant phase of this project was the financing of the Lofts at NoHo Commons, comprising 292 apartment units. This part of the project, completed in 2007 and offering a range of floor plans, was acquired by KBS Strategic Opportunity REIT II Inc. for $102.5 million. The acquisition was made through a joint venture, with KBS owning a 90% equity interest. The joint venture financed the purchase partly with a $72.1 million loan from Wells Fargo Bank, secured by the property.Additionally, the overall NoHo Commons project, featuring 438 Class-A apartments, 278 residential loft units, and retail spaces, secured a joint venture equity and construction financing of $200 million. This comprehensive development spans 650,000 square feet and includes 1,600 parking spaces, significantly contributing to the North Hollywood Redevelopment Project. Notably, 20% of the multi-family units in NoHo Commons are designated for low-income or "Income Restricted" tenancy, emphasizing its community commitment.