CBRE Secures $117M Construction Loan for West LA Office
The Bradmore Group, a private equity real estate firm, has obtained $117 million in construction financing for a state-of-the-art creative office project in West Los Angeles, CA. The low-rise campus in Silicon Beach, branded “42xx”, will be 151,000 square feet in size and is one of the first LA ground-up office buildings to move forward post-pandemic.
CBRE’s Greg Grant facilitated the financing, pairing two institutional lenders to execute the loan via a senior loan with subordinate mezzanine debt. Lincoln Property Company will oversee construction of the project. “In the office sector today, it is no longer just about flight to quality, but rather flight to experience. The Bradmore Group and Lincoln Property Company are delivering an office campus that is distinctly different and surrounded by amenities that tenants value,” said Grant.
Upon completion, the property will feature three prominent three-story buildings, connected via exterior corridors and stairways, providing flexibility to a single tenant or multiple users.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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