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5/07/15
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GPI Companies recently obtained $23.18 mil in financing for a 36k sf development site in Beverly Hills. The property is located at 9908 Santa Monica Blvd, on the southwest corner of Santa Monica and Charleville Boulevards.
The property has a very desirable location, across the street from the Beverly Hilton, the former Robinsons-May department store building and the Peninsula Beverly Hills hotels. Once the site of the Friars Club, the vacant site is currently commercially zoned for office or retail use.
Senior managing director Kevin MacKenzie and associate directors Greg Brown and Jeff Sause of HFF arranged the three-year, floating-rate loan with Cornerstone Real Estate Advisers.
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