Passo Expands Portfolio with Acquisition of (3) Prime West Los Angeles Sites for Affordable Housing

LOS ANGELES - Rezul -- Passo, a Los Angeles-based affordable housing development and investment firm, today announced the acquisition of three additional sites in the Westwood and Sawtelle neighborhoods of West Los Angeles. These additions to Passo's rapidly expanding portfolio illustrate Passo's continued commitment to developing high-quality, affordable multifamily housing in the city's most sought-after neighborhoods.

Founded in early 2024, Passo has quickly emerged as one of the most prolific developers of affordable housing in Los Angeles. With approximately 620 units currently in various stages of construction and development, representing over $200 million in total development costs, the company has demonstrated both velocity and vision in scaling its platform.

"We've moved swiftly to assemble a pipeline in some of the city's most competitive submarkets," said Sabin Burrell, Principal at Passo. "This momentum reflects not only our team's capability but also our unwavering commitment to addressing Los Angeles's critical housing shortage through strategic, high-impact development."

Passo's growth is backed by renowned institutional investors, reinforcing the company's capacity to deliver at scale and meet ambitious development goals. The firm's investment thesis centers around creating high quality, affordable housing in previously inaccessible neighborhoods, where Passo's tenancy will have greater access to economic opportunity. With each development, Passo will begin to satiate the overwhelming demand for attainable housing in neighborhoods where every Los Angeles resident would love to live, work, and play.

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"At Passo, we're building more than just housing," said Simon Aftalion, Principal at Passo. "We're focused on creating dignified, high-quality communities in neighborhoods where people want to live — not just where affordability has historically forced them to go. It's about shifting the narrative around affordable housing."

Daniel Glimcher, also a Principal at Passo, added, "We named our company Passo, because Passo means 'step.' Too often affordable housing developments are only permitted in areas that are less desirable, less safe, and provide less economic mobility for the tenants of those developments. At Passo, we aim to break that cycle by building in locations surrounded by employment centers, so we can help our tenants take the first step to economic independence and prosperity."

With Eight projects underway and more on the horizon, Passo continues to lead by example and redefine what's possible in the affordable housing space — proving that mission-driven development.