LOS ANGELES—Two separate developers have secured debt and equity financing to fund two new-construction development projects in Sherman Oaks and West Hollywood. The equity financing for both projects totals $14 million, and and will help to finance acquisition, entitlements and construction costs. Johnson Capital SVP Gabe Weinert secured the funds on behalf of both parties.

Barkley Development LLC secured $10.5 million in joint venture equity, funded by pension funds, endowments and foundations. The developer will use the funds in part to acquire, entitle and develop a 139-unit apartment building with 9,000 square feet of retail space. The property will sit on a 1.5-acre parcel on Sherman Oaks Boulevard. Construction on the project will begin in Q4 of this year and is expected to cost more than $50 million.

An unnamed developer also secured a $3.6 million bridge loan for the development of a luxury condominium project estimated to cost approximately $20 million. The bridge loan will help to fund construction efforts. The development is located in West Hollywood near Beverly Hills and will have between 14 and 18 units. Another property currently sits on the site, and will need to be demolished before construction can begin within the next six months. We were unable to obtain a comment from Weinert before the publication of this story.

Development in both the Sherman Oaks and the West Hollywood/Beverly Hills areas are becoming increasingly popular and land prices are on the rise. GlobeSt.com recently reported that Asian developer the Wanda Group purchased a parcel nearby this West Hollywood development to build a $1.2 billion luxury mixed-use complex.