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6/07/17
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Greystar has obtained $99.9 mil in financing for the development of Arts District AMP Lofts, a luxury mixed-use residential and retail property in Los Angeles’ Arts District. The 48-month construction loan was arranged by HFF and funded through CIT’s Real Estate Finance business.
Arts District AMP Lofts will have 320 Class A multi-housing units situated above 20k sf of ground-floor retail. The property will occupy more than half of a large industrial block on E. 7th St between Imperial St and S. Santa Fe Ave in the thriving Arts District, less than a mile from downtown Los Angeles.
Arts District AMP Lofts will be situated directly across from a 255k sf creative office development, which will be fully leased to Warner Music Group. The area is also home to an array of fine dining and entertainment options and for-sale loft projects with more than 1.2 msf of office space currently under development. Due for completion in 2019, property amenities will include a community garden and park, dog run, outdoor creative workspace, club house with bar and indoor/outdoor lounge space, state-of-the-art fitness center and outdoor pool.
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