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California  + Los Angeles  + Finance  | 

West Hollywood Mixed-Use Secures $71M Predevelopment Loan

Newmark recently arranged a $71-million predevelopment loan on behalf of Silver Creek Development for 8850 Sunset, a mixed-use development on Sunset Strip in West Hollywood. Co-president of Global Debt & Structured Finance Jonathan Firestone and vice chairman Blake Thompson secured the financing.

The financing, provided by Centennial Bank and Crestline Investors, will be used for pre-development activities including design and permitting. Construction commencement is anticipated in the near future, with further details on the project’s offerings to be released soon.

“8850 Sunset is poised to become a transformative mixed-use development, bringing an unparalleled level of sophistication and energy to the Sunset Strip,” said Firestone. “We are proud to have advised Silver Creek Development on securing the resources needed to bring this landmark project to life, and to have partnered with lenders Centennial and Crestline, who share our client’s ambitious vision.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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