$65 Million Financing Arranged for Six-Building Office and Retail Campus in West Los Angeles

JLL Capital Markets secured a $65 million loan for Wateridge.

JLL Capital Markets has arranged $65 million in refinancing for Wateridge, a six-building, office and retail campus totaling 583,580 square feet in West Los Angeles. JLL worked on behalf of the borrower, LPC Realty Advisors I, LLC, an investment advisory affiliate of Lincoln Property Company to secure the five-year, fixed-rate financing with Deutsche Bank.

Built between 1989 and 2005, Wateridge’s campus spans 21 acres and consists of three multi-tenant office buildings, a single-tenant medical office, a standalone 24-hour fitness facility and a multi-tenant strip retail center. The property is 80 percent occupied and leased to credit tenants, including Kaiser Health Foundation, the County of Los Angeles and Providence Health.

The JLL Capital Markets team was led by managing directors Todd Sugimoto and Mark Wintner and director Chad Morgan.

“The LPC team has done a terrific job transforming Wateridge since their initial acquisition,” said Morgan. “The combination of strong cash flow and institutional ownership within West Los Angeles was instrumental to the successful refinance. We greatly appreciate the efforts amongst all parties involved to execute in today’s challenging environment.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.