HFF arranges $60 million refinancing for the bLAckwelder creative office campus
LOS ANGELES, CA – July 10, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $60 million refinancing for bLAckwelder, a 157,560-square-foot creative office campus located at the intersection of Fairfax Avenue and La Cienega Boulevard, adjacent to Culver City, in Los Angeles, California.
HFF worked on behalf of the owner, Alcion Ventures, to secure the three-year, floating-rate loan through Heitman LLC.
Renovated in phases beginning in 2007, bLAckwelder is regarded as one of the premier, authentic creative office projects in Los Angeles. Consisting of 19 low-rise buildings across more than six acres, the property offers a laid-back, campus environment surrounded by highly desirable locational amenities. The project is home to an array of tenants primarily in the technology, advertising, media and information industries.
The HFF debt placement team representing the borrower was led by managing director Mark Wintner with the assistance of senior managing director Doug Bond.
"We are pleased to continue our productive partnership with HFF and Alcion," stated Rich Caterina, senior vice president, Real Estate Debt Group at Heitman.
“It has been a pleasure to work with the Alcion team to achieve their vision for the project over the last 10 years,” added Mark Wintner. “The irreplaceable nature of the asset and institutional sponsorship created broad interest from a wide array of potential lenders.”
About Alcion Ventures
Founded in 2004, Alcion Ventures is a real estate investment manager with extensive experience of generating risk-adjusted returns for institutional investors through the active repositioning of assets across property types. Alcion's senior team has worked together for almost two decades resulting in a disciplined, thesis-driven investment strategy that leverages a deep network of relationships and targets seven major North American cities. Based in Boston, Alcion invests on behalf of major U.S. and international institutional investors including public and private pensions, endowments, foundations and high net worth individuals. For more information, please visit alcionventures.com.
Founded in 1966, Heitman LLC is a global real estate investment management firm with over $37 billion in assets under management. Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies. Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations and corporations and individual investors. Headquartered in Chicago, with offices in Los Angeles, London, Luxembourg, Frankfurt, Munich, Warsaw, Hong Kong, Seoul, Tokyo, and Melbourne, Heitman’s over 300 employees offer specialized expertise – from a specific discipline to local insight.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.