Georgetown Co. has nabbed $56.4 million in construction financing from J.P. Morgan for the redevelopment of Los Angeles’ historic Herald Examiner Building into creative office space, reports the Commercial Observer.
The bridge loan will be used to fund the renovation and restoration of the property into a mixed-use development complete with creative office, retail and restaurant spaces.
The 100,000-sq.-ft. building, located at 1111 South Broadway in downtown LA’s bustling South Park neighborhood, will house an Arizona State University satellite campus as well as a Walter and Margarita Manzke-led restaurant, République.
Built in 1914, the property, designed by Julia Morgan, who was California’s first registered woman architect, was originally intended to be the home of the Los Angeles Examiner newspaper.
