Real Estate: 15 story 272,000 SF Creative Office development in Downtown LA’s Arts District
Total Project Costs: $130M
Targeted 10 Year IRR: 18%
Sponsor: Qualified local sponsor responsible for nearly 1 million SF of multi-family and mixed-use residential projects since 2009, valued at nearly $100M. Currently under way with 500,000 SF of additional residential & commercial projects.
Brief Summary:
The 15 story mixed-use office/retail project is located in Los Angeles’ revived Arts District. Plans consist of 238,000 SF of net rentable modern, creative office space. The ground level will feature an additional 12,000 SF of retail F&B.
Project Timeline
Start of Construction: End of 2019
Completion Date: End of 2021
Stabilization: Mid 2022