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5/31/21
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The Luzzatto Company has obtained senior and mezzanine construction financing totaling $54.73 mil for the development of The Depot, a 107.2k sf, 1.5 acre creative office campus in the West Adams micro market of Los Angeles. The financing consists of a $28 mil senior loan through Bank OZK and a $26.725 mil mezzanine loan through Related Fund Management.
Upon completion, The Depot will offer a premier stand-alone creative office campus with three levels of outdoor space totaling more than 20k sf, a 225-space subterranean parking garage, 15’ ceiling heights and steel and glass construction with 30’ bays.
The Depot is located two blocks from the intersection of the city’s two major transit lines, the Blue Line and the Crenshaw/LAX line. The Depot is also part of a qualified opportunity zone.
Paul Brindley, Jeff Sause and Spencer Richley with JLL Capital Markets arranged the financing. The project was designed by HLW.
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