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12/03/24
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Oliver McMillan LLC recently secured senior financing of $12.5 mil on the Culver Theater, a 41.3k sf movie theater in the heart of downtown Culver City. The five-year, fixed-rate loan was arranged by JLL Capitakl Markets and funded through Zions Capital Markets.
Culver Theater, situated at 9500 Culver Blvd, occupies a strategic position across from the Culver Hotel and Culver Studios, where a global e-commerce giant and movie production company operates over 530k sf of film and TV production space. The prime location offers quick access to major thoroughfares including Venice Blvd, I-405 and I-10.
As Culver City has evolved into a thriving hub for media and technology companies, the Culver Theater has become a valuable asset in the entertainment real estate sector. Its appeal is further enhanced by a long-term lease to a tech giant.
The Culver Theater, built in 2004, is 100% occupied. The buildout includes a best-in-class six-screen movie theater experience with a full bar, theater snacks and kitchen fare and plush seating along with six private sound stages. The theater, previously occupied by Arclight, was leased to a global e-commerce giant (Amazon) in June 2021 and opened to the public in 2022.
JLL’s Alex Olson, Joshua Blank and Sarah Kim represented the borrower in the transaction.
"The Culver Theater represents a unique opportunity in the heart of Culver City's entertainment district," said Olson. "Its prime location, coupled with the long-term commitment from a credited tenant, made this an attractive loan for Zions Capital Markets in today's market."
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