California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KeyBank Arranges $248M for G. H. Palmer’s The Lorenzo
KeyBank Real Estate Capital arranged a $247.8 million Freddie Mac, first mortgage loan for The Lorenzo, a 913-unit multifamily community in Downtown Los Angeles. The loan was used to refinance existing debt.
Located at 325 W. Adams Blvd., the mixed-use property was developed and is owned by Beverly Hills, CA-based G. H. Palmer Associates.
The Lorenzo has become a popular residential community for students attending USC, Loyola Law School and the Fashion Institute of Design and Merchandising. Students make up roughly 95% of the tenant base at the property.
The property features amenities like a professional sand volleyball court, two indoor basketball courts, and a virtual gaming and video arcade room. There’s also a karaoke room, community lounges and rooftop sundecks, two gyms, a study library, a 16-seat conference center and a central kitchen dining area.
Key Bank’s Robert Prouty arranged the fixed-rate loan with a seven-year interest only term.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


