Greenland USA obtained $310-million in financing to complete the third luxury residential tower at Metropolis in Downtown Los Angeles. French lender Natixis and Los Angeles-based Cottonwood Group arranged the senior construction loan facility.
The loan will allow the U.S. development arm of Chinese firm Greenland Group to complete Metropolis Phase 2B, a 56-story, 1-million-square-foot tower that encompasses 685 condos and roughly 26,600 square feet of retail space.
Cottonwood and Natixis served as administrative agents and lead arrangers on the financing.
Metropolis is a multi-billion-dollar mixed-use development that includes roughly 1,500 residential units in three towers, an 18-story hotel and 70,000 square feet of retail. Recently, the 40-story, 514-unit condo Tower II opened. The 3.5-million-square-foot project is located on 6.3 acres at 889 Francisco St. near LA Live.
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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