Hackman Capital Partners And Affinius Capital Secure $75 Million Refinance Loan For Culver Steps

A mixed-use property located at 9300 Culver Boulevard in Culver City encompasses 121,000 square feet. This property features office and retail spaces, currently leased by Amazon and Erewhon.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $75,000,000
• Lender: Deutsche Bank & Wells Fargo
• Landlord: Michael Hackman - Hackman Capital Partners; Len O'Donnell - Affinius Capital
• Loan Type: Refinance
• Loan Terms: five-year loan with a fixed interest rate of 6.62 percent

The transaction involved Hackman Capital Partners and Affinius Capital securing financing for the Culver Steps project. The net operating income of the property increased by 41% from 2022 to 2023, with projections to achieve an annual income of $8.6 million.