Mixed-Use Near Sony Pictures Gets Underway with $58M Loan
In Culver City, $42 million in senior construction debt from a life company capital provider and $16 million in preferred equity were recently secured on a seven-story mixed-use development across from Sony Pictures Studios. The project features 139 apartments including 14 affordable units over 1,969 square feet of ground-floor retail. The apartments will be a combination of studios, one bedroom and two bedrooms with common-area amenities including a swimming pool, clubhouse and fitness center.
Antonio Hachem, principal at George Smith Partners, and his team secured the non-recourse construction financing for an existing client, GR Properties USA Inc.
“I am thrilled to advance the vision of our sponsor as this project is well positioned to deliver quality housing in an area undergoing transformative growth, especially with the addition of many new media and tech jobs,” said Hachem.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.