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December 15, 2018
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NoHo Office Building Financed with $68 Mil Loan


J.H. Snyder Company has landed $68 mil in bridge financing for 5250 Lankershim Plaza, a Class A office building North Hollywood’s NoHo District.

The building is a state-of-the-art, LEED-Gold certified, nine-story, 179k sf building with an adjacent six-story, 723-space parking garage. 5250 Lankershim Plaza is currently 100% occupied by seven tenants, including Kaiser Permanente, Regus, and the Art Institute of California.

In addition to being situated in the NoHo Arts District, a trendy, pedestrian-friendly community of contemporary theaters, art galleries, cafes, and shops, 5250 Lankershim Plaza is also just one block from the North Hollywood Metro Station, which has helped the district attract major businesses, residential complexes, and overall expansion. Nearby entertainment giants such as Universal Studios, Warner Brothers, NBC, CBS Studio Center, Nickelodeon Animation, and Disney Studios have also helped lend to the resurgence and revitalization of the North Hollywood area over the last decade.

Seth Grossman, Jackie Tran and Steve Edelstein with Meridian Capital Group arranged the financing for J.H. Snyder Company, one of the nation’s leading builders for more than 60 years. The company has successfully built, leased and sold more than 4 msf of office space, 2 msf of retail development and 41,000 residential units.

“This property has maintained 100% occupancy for years, despite coming to market during the peak of the recession. In addition to our long-standing tenant and leasing relationships, that performance also highlights the strength and improvement of the NoHo submarket over the last decade.” explained Mike Wise, a Senior Partner of the J.H. Snyder Company.

“Although there is no current vacancy, the majority of the tenants roll over the next several years. It was critical to tailor a loan with ample structure to prepare for that roll, while simultaneously maintaining maximum flexibility to allow our client to operate the property on their terms.” added Grossman.

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