 |
| The Water Garden Phase I, Santa Monica, CA |
 |
| Jennifer L. Keller |
NEW YORK, NY – HFF announced it has arranged $260 million in
refinancing for The Water Garden Phase
I, two six-story, Class A, office buildings totaling 673,660 square feet
located in the heart of Santa Monica, California.
HFF
placed the 12-year, fixed-rate loan on behalf of the borrower, institutional
investors advised by J.P. Morgan Asset Management, with New York Life Real
Estate Investors.
The
Water Garden Phase I is part of a larger 1.27 million-square-foot office
complex called The Water Garden.
Designed by McLarand,
Vasquez & Partners, Inc., tenants of Phase I include Amazon, Edmonds.com,
Group M Worldwide, Sony Computer Entertainment and AMC Networking
Entertainment.
Situated on 9.10 acres at 2425 Olympic Boulevard and 1620
26th Street in Santa Monica, the asset is 14 miles west of downtown Los Angeles
in the Westside office market. In 2016,
a light rail station will open catty-corner from the property.
 |
| Mike Tepedino |
“The Water Garden has always been one of the top office
assets in Los Angeles,” Brindley said.
“Its position as the leading office asset in Santa Monica will be
enhanced further by the sponsor’s careful consideration of strategic capital
improvements to meet the evolving demands of the creative tenants that call
Santa Monica home.
“Furthermore, with the future opening of the Bergamot/26th
Street Expo Station across the street, the asset will offer the best
combination of institutional ownership, improvements and mass transit options
of any major asset in West Los Angeles.”
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
No comments:
Post a Comment