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Monday, May 23, 2022

Latigo Plans Mixed-Use

A rare and ambitious multifamily endeavor is underway in Thousand Oaks. Latigo Group’s 299 Thousand Oaks will be located at 299 E. Thousand Oaks Blvd. The developer’s website describes a four-story, 152,000-square-foot structure on 3.2 acres comprised of 142 class A apartments, 11,000 square feet of ground-floor retail and 239 parking spaces. The multifamily component breaks down to a mix of studio, one- and two-bedroom floorplans, plus 11 affordable housing units. Dekel Capital has arranged a $59 million construction loan for Latigo toward the project. Financing will be derived from an unnamed publicly traded REIT and an undisclosed life insurance entity. The development will stretch from Duesenberg Drive to Moorpark Road and will be located in direct proximity to The Oaks Mall and Thousand Oaks Civic Arts Plaza. Latigo Group wants to install a range of amenities, including a large plaza composed of terraces with ample seating, outdoor dining, 3,000-square-foot fitness center, pool and seating areas on the first and second floors of the complex. Completion due date has been set at 2022, despite the pandemic. “Latigo will continue to move forward with the development, while adhering to local and state social distancing guidance for construction sites, Dekel principal Shlomi Ronen said in a statement. “Despite the havoc that has literally shut down the real estate industry by the COVID-19 pandemic, our two lenders closed and funded their capital. The lack of housing construction in Thousand Oaks over the last decade has led to a notable supply/demand imbalance.”

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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