Connect Media > California News > Los Angeles > Greenland Secures $310M for Metropolis’ 3rd DTLA Tower

August 16, 2018 Comments Off on Greenland Secures $310M for Metropolis’ 3rd DTLA Tower Views: 4367 California News, Los Angeles

Greenland Secures $310M for Metropolis’ 3rd DTLA Tower

Order Reprints...

Greenland USA obtained $310-million in financing to complete the third luxury residential tower at Metropolis in Downtown Los Angeles. French lender Natixis and Los Angeles-based Cottonwood Group arranged the senior construction loan facility.

The loan will allow the U.S. development arm of Chinese firm Greenland Group to complete Metropolis Phase 2B, a 56-story, 1-million-square-foot tower that encompasses 685 condos and roughly 26,600 square feet of retail space.

Cottonwood and Natixis served as administrative agents and lead arrangers on the financing.

Metropolis is a multi-billion-dollar mixed-use development that includes roughly 1,500 residential units in three towers, an 18-story hotel and 70,000 square feet of retail. Recently, the 40-story, 514-unit condo Tower II opened. The 3.5-million-square-foot project is located on 6.3 acres at 889 Francisco St. near LA Live.

Read more at Los Angeles Business Journal

Connect With Greenland USA

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: , , , , ,

Comments are closed.