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10/13/20
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The Luzzatto Company Inc has locked in $48.7 mil in construction financing for Exposition 3, a 94.1k sf, creative office property that when complete will serve as the new headquarters for a fast growing company in Los Angeles.
Set to deliver in 2022, Exposition 3 is fully pre-leased on a long-term basis. It previously served as an industrial property and is being completely renovated into a two-building premier creative office space featuring a variance of ceiling heights, natural lighting and open outdoor space.
Exposition 3 is positioned on 2.18 acres in the West Adams submarket, which is emerging as one of the fastest-growing, most dynamic tech and creative markets in Los Angeles. The property is proximate to both the new Exposition/Crenshaw light rail station of the LAX line and the existing Exposition/Crenshaw light rail station of the Expo line, which connects three of the region’s predominant employment centers, Santa Monica, Culver City and Downtown Los Angeles.
Paul Brindley, Jeff Sause and Spencer Richley with JLL Capital Markets arranged the three-year, floating-rate construction loan. It was funded through HIG Realty Partners.
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