Premier Business Centers




The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
August 22, 2017
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Olive Hill Group Lands $41 Mil Refi on Culver City Creative Office Campus

7/27/17

Olive Hill Group has obtained a $41 mil, fixed-rate refi loan on Courtyard at Culver Pointe, a two-building, 205.1k sf Class A creative office campus in Culver City. The property is located at 200-300 Corporate Pointe, off Slauson Ave between Sepulveda and La Cienega Blvds.

Headed by real estate lawyers Michael Cho and Tim Lee, Olive Hill Group acquired the office buildings for $65.6 mil in May 2016 and recently launched a major redevelopment and rebranding of the property to The Courtyard at Culver Pointe. The redevelopment will include upgraded seating areas throughout the courtyard, food truck loading zones, a bocce ball court, and a new on-site gym facility, among others.

Since acquisition, Olive Hill Group has added Ipsos Insight, a global market research and consulting firm, and Omnia Media, a subsidiary of the Canadian company Blue Ant Media. Existing tenants include DataScience Inc, Paychex and Shiseido Cosmetics, among others.

The new 10-year loan was arranged by Andy Bratt and Amit Tyagi of Newmark Realty Capital and funded through a life insurance company. The loan was structured with a seven-year, interest-only period, followed by an amortization of 30 years. Olive Hill Group was also able to structure an earn-out, allowing up to $10 mil in additional funding as certain net operating income thresholds are met.

Lee notes, “By repositioning this property into a creative office campus with on-site amenities that foster creativity and collaboration, we plan to attract additional creative tenants, increase cash flow and net operating income, and ultimately drive long-term value for this asset. This financing will position us to be long-term holders of this property, and reflects our ongoing commitment to the Courtyard at Culver Pointe.”

David Larsen and Beth Understahl of Perkins Coie LLP acted as counsel for the borrower.




Return to the previous page
Lone Oak Fund Dec 2014

 
Advertisement

 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2017 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media