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| 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.
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| 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.
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| Groceries Apparel Clothing Line |
The HFF team representing the borrower was led by senior
managing director Paul Brindley and senior real estate analyst Jeff
Sause.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
