Marina Del Rey Mixed-Use Property Locks in $63M Loan

INclave, a mixed-use creative office and apartment property located at 4065 Glencoe Ave. in Marina Del Rey, was completed in fourth quarter 2019. It consists of three buildings with 65,000 square feet of office space, 49 luxury apartment units and a 2,100-square-foot cafe with a live-work-play concept.

A $63 million loan was recently closed for the three-building property. Max Sauerman, senior vice president in Bellwether Enterprise’s Los Angeles office, originated the loan on behalf of a Los Angeles-based company.

“The borrower developed a wonderful project and ACORE was able to provide competitive loan terms on a property that was not yet fully stabilized,” said Sauerman.

The property, located in the Marina Arts district, features amenities such as a pool, spa, pavilion, gaming area, barbecue area, yoga/meditation room, a business center and a fitness center. The creative office space has private entrances and entryways, 20-foot ceilings, operable windows and tenant-controlled 24/7 HVAC. INclave also offers a fully automated underground parking structure and is in walking distance to a variety of dining, entertainment and shopping options including the Villa Marina Shopping Center.