JMB Realty Secures $575M Construction Loan For Century City Office Tower

The development site at 1950 Avenue of the Stars in Los Angeles has secured a $575 million construction loan from Edward Siskind of Cale Street. The loan, obtained by JMB Realty, is for a 730,000-square-foot office tower in Century City, valuing the project at a minimum of $788 per square foot.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $575,000,000
• Address: 1950 Avenue of the Stars
• Market: Los Angeles
• Asset Type: Development Site ~ BSF: 730,000
• Lender: Edward Siskind - Cale Street
• Landlord: JMB Realty
• Loan Type: Construction Loan

The $575 million construction loan was secured by JMB Realty for the Century City office tower in Los Angeles. Edward Siskind from Cale Street facilitated the loan, highlighting the continued attractiveness of the Century City area despite broader market uncertainties surrounding office assets.