Starwood Property Trust has secured $213 million for the redevelopment of the century-old Museum Building in Downtown Los Angeles, according to The Real Deal.
Waterbridge Capital and Continental Equities are seeking $500 million to change the property, built in 1912, into a mixed-use site. The project would include more than 350,000 square feet. of office space, 400,000 square feet of retail space and an 117,000-square-foot hotel.
Plans also include a rooftop restaurant and a swimming pool.
