Done Deals: HFF arranges $78 million refinancing for Alameda Square Campus in Los Angeles

Tuesday, March 26, 2013

HFF arranges $78 million refinancing for Alameda Square Campus in Los Angeles

Aerial of Alamedia Square Campus
Downtown Los Angeles, CA

LOS ANGELES – HFF announced today that it has arranged a $78 million refinancing for the Alameda Square Campus, an industrial and creative office campus totaling more than 1.6 million square feet in downtown Los Angeles.

HFF worked on behalf of the borrower, a subsidiary of EVOQ Properties Inc., to secure the three-year adjustable-rate loan through Olen Properties.

The loan will be used to refinance first and second lien mortgages currently secured by the campus.

Paul Brindley

The new loan will also provide capital to pay tenant improvement and leasing costs for a recently executed 82,000-square-foot headquarters lease for Splendid® and Ella Moss®, two subsidiaries of VF Contemporary Brands.

The Alameda Square Campus at 7th and Alameda in downtown L.A. is comprised of approximately 1.4 million square feet of creative office, retail and light manufacturing space situated next to the historic 7th Street Produce Market and a wholesale market comprised of more than 200,000 square feet of industrial space.

Located near the Los Angeles Arts and Fashion Districts, the 32-acre campus is a prime location for the area’s growing enclave of fashion and creative companies. The campus also serves as the world headquarters for major fashion label American Apparel, and up-and-coming fashion brand Groceries Apparel relocated to the campus in late 2012 to expand operations.