|
12/21/20
|
Embarcadero Capital Partners (ECP) has obtained $22.4 mil financing for Campus 56, a 51.4k sf office redevelopment project in Los Angeles. The loan was arranged by CBRE Capital Markets’ Debt & Structured Finance team.
The campus is located at 5600 and 5650 W. Centinela Ave in the Westside media, entertainment, and technology cluster centered around Culver City, Playa Vista, and Culver Pointe. The 1.76-acre campus contains two buildings that were originally constructed in 1956 and 1985, each two stories tall and brick-clad. The buildout consists of a blend of office space and high-ceiling flex space suitable for a range of media, studio, and creative office purposes.
ECP acquired the property from Berg Electric, an owner-user who previously occupied the buildings as its headquarters. The campus was delivered vacant, allowing the new owner to immediately begin upgrades. Upon completion, the Class A creative office buildings will feature an open layout, as well as other improvements including new roofs, upgraded HVAC systems, new landscaping, and additional surface-level parking and increased electrical capacity.
CBRE’s Mike Walker and Brad Zampa arranged the floating rate loan, with assistance from Sean Sullivan, Todd Tydlaska, Mike Longo and Greg Grant. It was funded through Rialto Capital Management.
|
|
Return to the Archive page
|
|
|
|
|