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| Sarah Kim |
LOS ANGELES, CA – JLL Capital Markets has arranged the $12.5 million senior financing of Culver Theater, a 41,341-square-foot movie theater in Culver City, California.
JLL represented the borrower, Oliver McMillan LLC, and secured the
five-year, fixed-rate loan through Zions Capital Markets.
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| Alex Olson |
This prime location in Culver City, part of the greater Los Angeles area, offers quick access to major thoroughfares including Venice Blvd., I-405 and I-10.
As Culver City has evolved into a thriving hub for media and technology
companies, the Culver Theater has become a valuable asset in the entertainment
real estate sector. Its appeal is further enhanced by a long-term lease to a
tech giant.
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| Joshua Blank |
The Culver Theater, built in 2004, situated in Culver City's premier and highly walkable downtown retail corridor, is 100% occupied. The buildout includes a best-in-class six-screen movie theater experience with a full bar, theater snacks and kitchen fare and plush seating along with six private sound stages.
The theater, previously occupied by Arclight, was leased to a global
e-commerce giant in June 2021 and opened to the public in 2022.
JLL Capital Market’s Debt Advisory team representing the borrower was
led by Director Alex Olson, Associate Joshua Blank and Analyst Sarah
Kim.
"The Culver Theater represents a unique opportunity in the heart of
Culver City's entertainment district," said Olson. "Its prime
location, coupled with the long-term commitment from a credited tenant, made
this an attractive loan for Zions Capital Markets in today's market."
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| Culver Theater. 9500 Culver Boulevard, Culver City, CA |
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
Jones Lang LaSalle Americas,
Inc. ("JLL") is a real estate broker licensed with the California
Department of Real Estate, license #01223413.
Contact:
Gréta Kieras
Senior Associate
Public Relations
Phone: +1 949
930 8498
Email: greta.kieras@jll.com
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