LA office project secures $54.73 million in construction financing

JLL Capital Markets has arranged senior and mezzanine construction financing totaling $54.73 million for the development of The Depot, a 107,199-sq.-ft., 1.5 acre creative office campus in the West Adams micro market of Los Angeles.

JLL worked on behalf of the developer, The Luzzatto Company, to secure a $28 million senior loan through Bank OZK and a $26.725 million mezzanine loan through Related Fund Management.

Upon completion, The Depot will offer a premier stand-alone creative office campus with three levels of outdoor space totaling more than 20,000 sq. ft., a 225-space subterranean parking garage, 15’ ceiling heights and steel and glass construction with 30’ bays.

The Depot is located two blocks from the intersection of the city’s two major transit lines, the Blue Line and the Crenshaw/LAX line. The Depot is also part of a qualified opportunity zone.