$28.1M refinancing secured for Sunset Blvd. creative office building
JLL Capital Markets notes pent-up demand will fuel Hollywood market post-pandemic
LOS ANGELES – Mar. 3, 2021 – JLL Capital Markets announced today that it arranged $28.1 million in proceeds to refinance 6725 Sunset Blvd., a 73,851-square-foot, newly-renovated Class A creative office building in Los Angeles, California.
JLL worked on behalf of the borrower, Vanbarton Group LLC, to secure the floating-rate loan through Global Atlantic Financial Group.
Located along famed Sunset Blvd., the building is positioned in the heart of the Hollywood market, supported by a strong base of entertainment and media companies, as well as an increasing number of tech and creative-office users. This market has seen an influx of young professionals in recent years, drawn by the abundance of high-earning jobs, walkable neighborhoods and comprehensive lifestyle offerings that are developing across Hollywood.
Vanbarton Group recently completed a multi-million-dollar renovation of the property, including upgrades to the building’s private courtyard, common areas, lobby, entrances and corridors. The five-story building includes roughly 15,000 square-foot floor plates and now boasts several modernized and turnkey office suites immediately available for lease.
The JLL Capital Markets team representing the borrower was led by Managing Director Todd Sugimoto, Director Spencer Richley and Director Keith Rosso.
“Major entertainment and tech companies continue to pour billions of dollars into content creation annually, and Hollywood remains the epicenter of the entertainment industry,” Richley said. “Global Atlantic understands the Hollywood market and the value of a well-located, newly renovated asset like 6725 Sunset Blvd.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 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.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Vanbarton Group
Vanbarton Group is a privately owned, vertically integrated real estate investment and advisory firm founded in 1992 with corporate offices in New York City, San Francisco and Seattle. With its proven expertise successfully investing across the capital stack in varying ways throughout real estate cycles, Vanbarton's investments include core, value-to-core and value-add equity investments, preferred equity, junior participations, bridge loans, secondary market debt acquisitions and securitized credit throughout the U.S. To find out more about Vanbarton, please call 212-293-8800, or visit the firm’s website at vanbartongroup.com.