Greenbridge Finance co-generates $150 million to refinance downtown Los Angeles reef
Greenbridge financinga private finance company focused on originating loans for commercial real estate acquisitions and recapitalizations, and Deutsche Bank co-created $150 million to refinance The Reef in downtown Los Angeles.
Greenbridge Finance is a wholly owned subsidiary of Greenbridge Investment Partners, a fully integrated commercial real estate platform that acquires and repositions underperforming properties to become best-in-class assets across all commercial real estate sectors. The loan adds to a list of major business acquisition and lease milestones over the past six months. Greenbridge directors include Sean Hashem and Fareed Kanani and his partner Josh Farahi.
“Greenbridge applies a similar investment philosophy to its real estate portfolio and its loan portfolio,” said Sean Hashem, principal at Greenbridge Investment Partners and Greenbridge Finance. “Knowing long-term market trends and fundamentals are always key considerations, but we look beyond the numbers. We spend time understanding an asset’s potential, knowing the needs of its tenants and projecting future benefits for both. We immerse ourselves in the local neighborhood and often observe community virtues or frictions that impact an asset’s ultimate success. These criteria revealed the long-term viability of The Reef as a business and as a borrower.
Located at 1933 South Broadway near highways 10 and 110 and within walking distance of the Expo and Blue light rail lines, The Reef offers more than 800,000 square feet of creative habitat for rent, designed to meet the needs of innovators, various entrepreneurs and creators.
The 12-story plus basement building brings together LA Mart, the West’s largest gifts, homes and design resource; Maker City LA, a workspace for creative businesses and entrepreneurs; and Magic Box, which offers facilities for media production, events and experiential marketing. Long-term tenants and short-term tenants of the property’s event space include fashion, technology, media, design and the arts, as well as trade show producers large and small, to collaborate and s flourish in our spaces.
“Los Angeles is the global epicenter of creativity and there is a constant demand for workspace. The building’s design and location make it an ideal place to launch and grow creative businesses,” added Hashem.
The Reef joins a growing list of current and former borrowers of Greenbridge’s variable rate short term capital and fixed rate long term financing for property acquisitions and the recapitalization of existing assets.
Greenbridge offers a variety of non-recourse loans ranging from $5 million to $200 million with loan-to-value and loan-to-cost ratios of up to 85% on all property types – office, retail, hotel, industrial, multi-family, mobile home, self-storage and mixed-use – in all markets in the United States. Greenbridge offers the ability to structure all of the capital of commercial real estate loans, including senior loans, B-notes, mezzanines and preferred shares.
For more information or to speak with Greenbridge Finance about financing options, contact 310-273-2277.
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