Regions West | Los Angeles
$18M Loan Paves Way for Beverly Hills Office & Retail Building
May 7, 2008

A plan to convert a former gas station site in Beverly Hills into the home of a 30,000-square-foot spec office and retail structure gets a boost with Newmark Realty Capital Inc.'s orchestration of an $18.1 million loan for the project. Real estate private equity fund Big Rock Partners L.L.C. has a 100-year ground lease to develop the entitled one-third-acre parcel located 9378 Wilshire Blvd. Provided by a regional bank, the loan is for a 24-month term with optional extensions.

 
Recent Los Angeles Headlines
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Grubb & Ellis Co. said today that William Hunt, a 29-year veteran of the Southern California real estate market, has been named executive managing director, responsible for the the company's Los Angeles county offices.
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Los Angeles International Airport is undergoing a massive multi-phase makeover and the city's Board of Airport Commissioners has just authorized approximately $1.8 billion to cover projects encompassed in the initial stage of the airport's capital improvement program, which is being conducted under Los Angeles World Airports' Project Labor Agreement. .