July 11, 2017
HFF arranged a $60 million refinancing for bLAckwelder, a 157,560-square-foot creative office campus in Los Angeles. HFF worked on behalf of the owner, Boston-based Alcion Ventures, to secure the three-year, floating-rate loan through Heitman LLC.
The property is located at Fairfax Avenue and La Cienega Boulevard, adjacent to Culver City. A phased renovation of the 19 low-rise buildings across more than six acres commenced in 2007.
That transformation into a laid-back, campus environment surrounded by highly desirable locational amenities has attracted an array of tenants primarily in the technology, advertising, media and information industries.
HFF’s debt placement team representing the borrower included Mark Wintner and Doug Bond.
Wintner says, “The irreplaceable nature of the asset and institutional sponsorship created broad interest from a wide array of potential lenders.”
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