14
Units delivered
Multifamily · North Hollywood
The Calvert XIV
10957 Calvert St · Refinanced & Held · 14 Units · 2023 – present
Oct 2025
Certificate of occupancy
100%
Occupancy
Held
Refinanced into term debt
The Investment
The largest ground-up project in the portfolio — built, stabilized, refinanced, and held.
A ground-up 14-unit apartment building in North Hollywood, and the largest development by unit count in the schedule. It received its certificate of occupancy in October 2025.
Rather than sell into the stabilized-asset market, the building was refinanced in June 2026 into a long-term loan and retained. It is fully leased.
Holding rather than selling keeps the building as a long-term rental asset; any gain stays unrealized until it is sold or refinanced again.
Gallery
The Property.
The Outcome
How It Finished.
| Strategy | Result | Years |
|---|---|---|
| Ground-up multifamily | Refinanced & held | 2023 – present |
Detailed project financials are discussed privately with investors we have an established relationship with. How we work with investors →
This project was completed by the principals through Thornton Development Group or an affiliated predecessor entity. It was not an Assemble Capital offering and did not involve Assemble Capital investors. Sale prices are recorded sale prices. Past performance is not indicative of future results.
Investment Cycle
How the Deal Ran.
Every project follows the same arc — acquire, design and permit, build, market, exit. What changes is where the time and the risk concentrate.
2023
Acquire
North Hollywood site acquired for ground-up multifamily development.
2023
Permit
14-unit program permitted.
2023–2025
Build
Construction completed; certificate of occupancy October 2025.
2025–2026
Stabilize
Leased to 100% occupancy.
June 2026
Refinance & Hold
Refinanced into a term loan; asset retained.
The Takeaway
Build-to-hold turns a development project into a long-term asset — and any gain stays unrealized until the building trades.
Investor Relationships
Interested in How We Work?
We develop Los Angeles residential projects alongside investors we know well, and the principals personally guarantee the project loans, never our investors. Project details are shared privately, once we’ve gotten to know you. Nothing here is an offer to sell or a solicitation to buy any security.