Attractive financing secured for an ultra-luxury multi-housing asset and separate jewel-box mixed-use asset both located in Beverly Hills, CA
JLL Capital Markets led the financing efforts for the brand-new multi-housing asset at 250 N. Crescent Dr. and the 99-percent-leased, Class A mixed-use asset at 9440 Santa Monica Blvd.
LOS ANGELES, June 6, 2023 – JLL Capital Markets announced today that it has arranged financing for two trophy assets in Beverly Hills, California. JLL secured the senior notes with Wintrust Financial for 9440 Santa Monica Blvd., an approximately 92,000-square-foot, trophy, mixed-use building, and a newly constructed ultra-luxury apartment building located at 250 North Crescent Drive. Both assets are located in the famed Beverly Hills “Golden Triangle.”
JLL worked on behalf of Maxxam Enterprises to secure the financing with Chicago-based Wintrust Financial Corporation. The two transactions demonstrate Wintrust’s objective to expand their footprint in California, and Maxxam’s continued strategy to own, operate and develop best-in class assets across various product types.
“Fantastic to partner with the team at Maxxam on these two exceptional properties. Wintrust is excited to continue expanding on this great relationship and to grow our footprint in Southern California,” said Brenton Norman of Wintrust.
The JLL Capital Markets Debt Advisory team representing Maxxam was led by Senior Director Matt Stewart, Director Alethia Halamandaris and Analyst Jalynn Borders.
“In today’s market, debt is no longer a commodity, but rather a strategic partnership. These two transactions between Maxxam Enterprises and Wintrust represent the resilience of such a partnership in the midst of the current market volatility,” Stewart said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales 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.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Maxxam Enterprises
Founded in 1979, Beverly Hills-based Maxxam Enterprises began converting older warehouses and industrial buildings into desirable retail, wholesale and showroom space in what is today the Fashion District of downtown Los Angeles. Over time the company developed nearly 4 dozen such properties in the area, with several of the developments winning design awards.
Since those early days, Maxxam has diversified across property types and regional markets. With over 120 years of collective experience, the principals of Maxxam have built an impressive track record identifying undervalued properties and maximizing profit potential through creative repositioning, capital improvements, active management and/or disposition. To date, the company has acquired or developed more than 200 properties totaling over 4,000,000 SF throughout California, the Western United States and other select markets.
About Wintrust Financial
Wintrust is a financial holding company with assets of approximately $53 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 170 banking locations located in the greater Chicago and southern Wisconsin market areas.