June 24, 2016 Comments Off on Broadbridge LA Secures $164.5M Redev Capital for Broadway Trade Center Views: 451 California, California News, Los Angeles, West

Broadbridge LA Secures $164.5M Redev Capital for Broadway Trade Center

Broadbridge LA, LLC, a joint venture of an affiliate of New York-based Waterbridge Capital and New York-based Continental Equities Group, secured $164.5 million in financing from Jamestown to redevelop the 1.1 million-square-foot Broadway Trade Center in DTLA. New York-based Ackman-Ziff represented Broadbridge LA in securing the lender.

The financing provides capital to continue an extensive renovation currently underway on the 1908 landmark. The planned revitalization of the eight-story building includes incorporating a mix of uses such as a food marketplace, bars and restaurants, retail, hotel, rooftop park and flexible office space.

The ownership team spearheading the transformative redevelopment, Joel Schreiber and Jackie Jangana, say they “plan to create a modern, premier business and tourist destination that will build on the momentum already underway to bring thriving business back to the downtown corridor.”

Read More at Business Wire

Connect with Waterbridge Capital’s Schreiber

Connect with Jamestown’s Phillips

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