Loan Arranged for South Park Development
A $28.4-million, 10-year bond-financed construction and permanent mortgage loan from the National Bank of Canada has been arranged by George Smith/Grubb & Ellis Financial Services for The Skyline at South Park.
To be developed by Forest City Enterprise at the northeast corner of Flower Street and Olympic Boulevard, Skyline II, as the project is called, will have 270 apartments in a 14-story tower, a 5-level parking structure with 457 spaces and a 3-story building with 32,950 square feet of office/retail space.
For the record:
12:00 a.m. April 3, 1988 For the Record
Los Angeles Times Sunday April 3, 1988 Home Edition Real Estate Part 2 Page 4 Column 3 Real Estate Desk 1 inches; 30 words Type of Material: Correction
Meenas Manjikian, executive director of George Smith/Grubb & Ellis Financial Services, was incorrectly identified in a March 27 article as executive director of the Los Angeles Community Redevelopment Agency.
More than $10 million will be provided by the Los Angeles Community Redevelopment Agency toward the development, according to Meenas Manjikian, executive director of the CRA. Daniel Dworsky Architect & Associates, Los Angeles, is the architect; Morley Construction Co. is the general contractor.
