April 19, 2016
CBRE’s Capital Markets’ Debt & Structured Finance team secured $124.6 million in financing for Century West Partners to develop Next on Lex, a mixed-use luxury multifamily project in Glendale, CA.
The $280 million project, located at 201 West Lexington Drive, will boast 494-units, 8,100 square feet of retail and is expected to be completed in 2019. Apartment amenities include in-wall USB outlets, Bluetooth-enabled amplifiers, a yoga studio, screening room, game room, indoor golf range, private massage room, along with other attractive features.
Vice Chairman Brian Eisendrath and Vice President Brandon Smith, from CBRE’s Century City office, arranged construction financing. Eisendrath said, “For large projects such as Next on Lex, going outside the typical lender groups is important to securing the best terms.”