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Blackstone and LBA to refinance $270M office campus in Culver City
The refinancing is expected to retire $310 million of existing debt and include about $5.8 million in closing costs.
Blackstone and LBA Realty are set to close a $270 million commercial mortgage-backed securities refinancing for an office campus in Culver City, Southern California, according to Commercial Observer.
The loan will be provided by Nomura Holdings and Nomura Group, for One Culver, a 378,377-square-foot property at 10000 Washington Boulevard that includes office space, soundstages, retail shops, restaurants, and an Equinox gym.
Commercial Observer reported the refinancing is expected to retire $310 million in existing debt and cover approximately $5.8 million in closing costs.
The outlet also noted the financing comes more than four years after Blackstone and LBA partnered on a recapitalization deal valued at more than $500 million, with Blackstone holding a 90 percent stake in One Culver.