Buchanan Mortgage Holdings, LLC provided a $47 million non-recourse construction loan for the development of Lumia Apartments located in Azusa, California. Situated on a 1.2-acre site adjacent to the Metro Gold Line station in downtown Azusa, the to-be-built five-story, Class A, mixed-use project is entitled for 127 market-rate multifamily units above 9,500 square feet of ground-floor retail and two levels of subterranean structured parking. This financing is the third construction loan that Buchanan has provided to the sponsor, furthering Buchanan’s involvement in supporting the development of new multifamily housing in supply-constrained Southern California cities.