{"id":1004146739,"date":"2016-06-27T01:09:09","date_gmt":"2016-06-27T09:09:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004146739"},"modified":"2020-04-01T02:13:43","modified_gmt":"2020-04-01T10:13:43","slug":"165m-financing-earmarked-for-la-mixed-use-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/165m-financing-earmarked-for-la-mixed-use-project\/","title":{"rendered":"$165M Financing Earmarked for LA Mixed-Use Project"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004146741\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004146741\" data-attachment-id=\"1004146741\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/165m-financing-earmarked-for-la-mixed-use-project\/broadway-trade-08_2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg\" data-orig-size=\"1280,673\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Broadway-Trade-08_2\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg?w=1024\" class=\"wp-image-1004146741 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg\" alt=\"Rendering of the proposed adaptive reuse project at 801 S. Broadway in Los Angeles\" width=\"300\" height=\"158\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg 1280w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg?resize=300,158 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg?resize=768,404 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/Broadway-Trade-08_2.jpg?resize=1024,538 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004146741\" class=\"wp-caption-text\">Rendering of the proposed adaptive reuse project at 801 S. Broadway in Los Angeles<\/p><\/div>\n<p><strong>Los Angeles<\/strong>\u2014<a href=\"https:\/\/www.broadridge.com\/\" target=\"_blank\" target=\"_blank\" rel=\"nofollow\">Broadbridge LA LLC<\/a> has secured $164.5 million in financing to redevelop Broadway Trade Center, a 1.1 million-square-foot mixed-use building in downtown Los Angeles, from <a href=\"https:\/\/www.jamestownlp.com\/\" target=\"_blank\" rel=\"nofollow\">Jamestown LP<\/a>.<\/p>\n<p>\u201cThe Broadway Corridor is poised to make a comeback as the urban heart of Los Angeles, and we\u2019re pleased that we can assist as a lender on this transformative redevelopment project,\u201d Jamestown president Michael Phillips\u00a0said in a prepared release. \u201cWe are committed to investing our resources in projects that transform spaces into true destinations through innovative mixed-use components, and we\u2019re confident in the future of the Broadway Trade Center and the surrounding neighborhood.\u201d<\/p>\n<p>The financing will provide the necessary capital to pay off the existing loan and will allow Broadbridge to continue an extensive renovation of the historic building.<\/p>\n<p>Institutional real estate investment capital advisor <a href=\"https:\/\/ackmanziff.com\/\" target=\"_blank\" rel=\"nofollow\">Ackman-Ziff<\/a> represented Broadbridge in securing Jamestown as the lender.<\/p>\n<p>According to a press release issued by Joel Schreiber and Jackie Jangana, joint venture owners of Broadbridge LA LLC, the team plans to create a modern, premier business and tourist destination that will build on the momentum already underway to bring thriving business back to the downtown corridor.<\/p>\n<div id=\"attachment_1004146742\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/broadway-trade-01.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004146742\" data-attachment-id=\"1004146742\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/165m-financing-earmarked-for-la-mixed-use-project\/broadway-trade-01\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/broadway-trade-01.jpg\" data-orig-size=\"667,500\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"broadway-trade-01\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/broadway-trade-01.jpg?w=667\" class=\"wp-image-1004146742 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/broadway-trade-01.jpg\" alt=\"Broadway Trade Center\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/broadway-trade-01.jpg 667w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/06\/broadway-trade-01.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004146742\" class=\"wp-caption-text\">Broadway Trade Center<\/p><\/div>\n<p>Originally constructed in 1908 as the home of Hamburger\u2019s Department Store and acquired by the May Co. in 1923, the Broadway Trade Center\u2019s makeover will be a significant step in bringing new life to the Broadway Corridor.<\/p>\n<p>The plan calls for a mixed-use complex to include a food marketplace, bars and restaurants, retail space, a hotel, a rooftop park and more. The building will also feature flexible office space with large floorplates, enabling thousands of jobs to be located within steps of housing also being constructed within the surrounding neighborhood.<\/p>\n<p>Jamestown\u2019s property holdings in Los Angeles include <a href=\"https:\/\/www.commercialsearch.com\/news\/jamestown-makes-big-buy-in-little-tokyo\/\" target=\"_blank\">Brunswig Square<\/a>, an office\/retail building located in the heart of Little Tokyo; Malibu Village, a lifestyle retail project located in the Civic Center of Malibu; and <a href=\"https:\/\/www.commercialsearch.com\/news\/lantana-media-campus-gets-85m-in-financing\/\" target=\"_blank\">Lantana<\/a>, a collection of four creative Class A office buildings adjacent to the new Expo line in the Santa Monica Media District.<\/p>\n<p><em>Images courtesy of <a href=\"https:\/\/omgivning.com\/\" target=\"_blank\" rel=\"nofollow\">Omgivning<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The makeover of the Broadway Trade Center in downtown Los Angeles will include the addition of retail, office and hotel space.<\/p>\n","protected":false},"author":451,"featured_media":1004146741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21825,1594,21752,21742,15],"tags":[],"class_list":["post-1004146739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-finance","category-los-angeles","category-mixed-use","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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