{"id":1004727093,"date":"2024-08-29T02:49:09","date_gmt":"2024-08-29T10:49:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004727093"},"modified":"2024-08-29T06:44:43","modified_gmt":"2024-08-29T14:44:43","slug":"lendlease-jv-lands-316m-for-la-mixed-use-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/","title":{"rendered":"Lendlease JV Lands Financing for $600M LA Mixed-Use Project"},"content":{"rendered":"\n

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\"Exterior<\/a>
Habitat\u2019s office building, pictured on the right, will rise six stories. Image courtesy of Lendlease<\/em><\/figcaption><\/figure><\/div>\n\n\n

A joint venture between Lendlease and Aware Super has secured $316 million in construction financing for Habitat, a 454,000-square-foot mixed-use development in Los Angeles. <\/p>\n\n\n\n

Upon completion, the property will comprise a 253,000-square-foot office building and a 260-unit community, as well as 2,900 square feet of retail space.<\/p>\n\n\n\n

Barings and Counterpointe Sustainable Real Estate provided the funds that also include C-PACE financing<\/a> for the development\u2019s sustainable elements.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Los Angeles Office Market Still Pricey<\/a><\/p>\n\n\n\n

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Lendlease and Aware paid $92 million for the 3.5-acre development site in 2020. At the time, the project was estimated at $600 million.<\/p>\n\n\n\n

SHoP Architects provided design services and Steinberg Hart served as the architect of record for the office facility, while A+I mapped out commercial interiors. The building will feature 50,000-square-foot floorplates and 14-foot slab heights, as well as folding glass walls.<\/p>\n\n\n\n

Amenities are slated to include private outdoor terraces on levels three through six, on-site retail and restaurant space, a gym and a 1-acre park landscaped with regional fauna. Moreover, the building will provide locker rooms with showers and end-of-trip facilities for cyclist commuters. <\/p>\n\n\n\n

Targeting net zero <\/h2>\n\n\n\n

In line with its commercial real estate decarbonization strategy<\/a>, Lendlease will implement a 125kW solar array at Habitat, as well as 64 dedicated electric vehicle parking spots, 222 secured bike parking spaces, natural ventilation and lower-carbon concrete. <\/p>\n\n\n\n

The firm is targeting LEED Platinum for Habitat’s commercial building\u2014which would be the first new creative office office structure in Los Angeles to achieve such certification\u2014 and LEED Gold for the residential component. <\/p>\n\n\n\n

Habitat will rise at 3401 S. La Cienega Blvd., proximate to La Cienega \/ Jefferson Metro Station. Downtown Los Angeles is roughly 8 miles northeast, while Los Angeles International Airport is 7 miles southwest.<\/p>\n\n\n\n

Greater Los Angeles\u2019 office pipeline totaled 2.6 million square feet of under-construction space in June, according to a report by Cushman & Wakefield. The figure was slightly higher than the one registered a year ago, when 2.4 million square feet were underway.<\/p>\n","protected":false},"excerpt":{"rendered":"

The development will include the city’s first LEED Platinum creative office building.<\/p>\n","protected":false},"author":3471,"featured_media":1004727094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,1594,21742,21747,15],"tags":[34275,33849],"class_list":["post-1004727093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-los-angeles","category-latest","category-office","category-west","tag-barings","tag-lendlease"],"acf":[],"yoast_head":"\nLendlease JV Lands Financing for $600M LA Mixed-Use Project - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Lendlease and Aware Super landed a $316 million in construction financing for Habitat, a mixed-use project in Los Angeles.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lendlease JV Lands Financing for $600M LA Mixed-Use Project\" \/>\n<meta property=\"og:description\" content=\"Lendlease and Aware Super landed a $316 million in construction financing for Habitat, a mixed-use project in Los Angeles.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-29T10:49:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-29T14:44:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/u-wbXqHs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/\",\"name\":\"Lendlease JV Lands Financing for $600M LA Mixed-Use Project - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/u-wbXqHs.jpg\",\"datePublished\":\"2024-08-29T10:49:09+00:00\",\"dateModified\":\"2024-08-29T14:44:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"Lendlease and Aware Super landed a $316 million in construction financing for Habitat, a mixed-use project in Los Angeles.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lendlease-jv-lands-316m-for-la-mixed-use-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/u-wbXqHs.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/u-wbXqHs.jpg\",\"width\":1200,\"height\":900,\"caption\":\"The development\u2019s office building, pictured on the right, will rise six stories. 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