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| bLAckwelder office campus, La Cienega Boulevard at Fairfax Avenue, Los Angeles, CA |
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| Mark Wintner |
LOS ANGELES – HFF announced it has arranged a $40.41 million
financing for bLAckwelder, a 150,627-square-foot creative office campus
in Los Angeles, California.
HFF worked on behalf of the borrower, a joint venture
between Alcion Ventures and Genton Property Group, to secure the three-year,
floating-rate bridge and construction loan through U.S. Bank. The loan will be used for the continued
redevelopment of the asset.
The bLAckwelder campus is located on La Cienega Boulevard at
the intersection of Fairfax Avenue just north of Jefferson Boulevard and
approximately one-half mile south of Interstate 10.
The project is situated on a 6.18-acre site that consists of
19 renovated, to-be-renovated, or to-be-constructed creative office
buildings. 13 buildings were recently
renovated and are 100 percent leased to multiple tenants.
Five of the six
remaining buildings are scheduled for conversion from industrial to creative
office space, with the last scheduled to be demolished and replaced with a new
creative office building.
The HFF team representing the borrower was led by managing
director Mark Wintner along with senior managing director Doug Bond.
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| Doug Bond |
Genton Property Group, based in Los Angeles, California, is
a diversified real estate investment company focused on Southern California
office, industrial and multifamily acquisition and development
opportunities.
Genton Property Group, directly or through affiliates,
currently owns real estate investments totaling more than $500 million, with
invested equity exceeding $150 million.
For more information, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
krmurphy@hfflp.com
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