31,000 SF Creative Office Conversion
Culver City, CA
HRC negotiated a $11,100,000 bridge loan for the renovation and repositioning of a 2-story, 31,000 square foot creative office building in Culver City, Los Angeles, immediately adjacent to Fox Hills Park. The property will be marketed to single-tenant users throughout the renovation period. Highland placed the 3-year, non-recourse bridge loan with a private lender at a rate in the L+400s, with significant holdback for renovation and TI and LC requirements.