The Los Angeles Chargers are steps closer to constructing a new corporate headquarters, thanks to a $276 million construction and financing loan nabbed by developers Mar Ventures Inc. and Continental Development Corp.

The project, designed by Gensler, will be built on a 14-acre property in El Segundo. It will be seven miles from SoFi Stadium, according to the Los Angeles Chargers website.

“To be able to develop 14 acres of prime real estate – with the proximity to LAX, SoFi Stadium, Silicon Beach, more Fortune 500 companies in the state than anywhere except San Francisco and, of course, neighbors like the Los Angeles Lakers and Los Angeles Kings – it’s another major step toward building a perennial contender and further rooting ourselves in the community we serve,” Dean Spanos, chairman and team owner, said last year.

Plans for the new headquarters were first announced last November. Los Angeles-based Sonnenblick-Eichner Co. arranged the loan which is funded by CTL Capital.