LINCOLN PROPERTY COMPANY AND MCCOURT PARTNERS SECURE FINANCING FROM BANK OZK FOR ELEVENONEELEVEN MIXED-USE COMMUNITY IN CULVER CITY

Lincoln Property Company (“Lincoln”), a global full-service real estate firm, and McCourt Partners (“McCourt”), a family-owned real estate development, investment, and management company, announced today that they have secured $132.7 million in construction financing from Bank OZK for ElevenOneEleven, a new mixed-use development in Culver City.  Located at 11111 Jefferson Boulevard, ElevenOneEleven will transform an underutilized 3.43-acre parcel into a six-story mixed-use development comprising 344 residences, including 52 affordable units, along with 2,000 square feet of retail and 17,520 square feet of publicly accessible outdoor space. 

“This financing marks a critical milestone for ElevenOneEleven, providing the capital needed to move into the next phase of bringing our vision for this project to life,” said Stephen Lindgren, Senior Vice President and Los Angeles Market Lead at Lincoln. “McCourt has been an exceptional development partner throughout the process, and our collaboration reflects a shared conviction in the project and what it will bring to the Culver City community.”

ElevenOneEleven will feature two full floors of modern residential amenities and 500 parking spaces upon completion. Located at the intersection of Jefferson and Sepulveda Boulevards, the site is positioned near Downtown Culver City, Playa Vista, Marina del Rey, and Venice, with direct access to Interstate 405 and State Route 90 and connections to Interstate 10 and Interstate 105.

“ElevenOneEleven represents a defining opportunity for Culver City, reimagining one of its most prominent intersections as a vibrant destination with a distinct sense of place,” said Jordan Lang, President at McCourt Partners. “By bringing together thoughtfully designed residences and public spaces, the project will strengthen connections across the community, and create enduring value for Culver City.” 

Senior Managing Director Lou Friedel and Managing Director Keith Rosso of Berkadia Los Angeles arranged the financing on behalf of Lincoln and McCourt.

“Securing construction financing in today’s environment speaks to the strength of the sponsorship and the fundamentals behind this project,” said Friedel. “Los Angeles County continues to add new apartment supply at a relatively measured pace, while demand is projected to outpace deliveries. Culver City is particularly well positioned, with a deep employment base, strong connectivity, and immediate access to the Westside.”

ElevenOneEleven is being designed by KFA Architecture, with Kimley-Horn serving as the civil engineer. Construction is anticipated to commence in the fourth quarter of 2026.

“We are excited to provide construction financing for a development of this caliber,” said Aram Zakian, Managing Director of Originations at Bank OZK. “Lincoln and McCourt have distinguished track records of delivering high-quality developments and we are pleased to support their vision for ElevenOneEleven.”