Uncommon Developers Secures $150M Acquisition Loan From Barings And Nuveen For Figueroa At Wilshire

The asset involved in this transaction is the Figueroa at Wilshire tower, located at 601 South Figueroa Street in Los Angeles. This office property was acquired for a total of $210 million. The acquisition financing secured amounts to $150 million, provided by Barings and Nuveen.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $150,000,000
• Lender: Mike Freno - Barings; Bill Huffman - Nuveen
• Landlord: Ryan Hekmat & Jason Larian - Uncommon Developers
• Loan Type: Acquisition

Uncommon Developers, represented by Ryan Hekmat and Jason Larian, secured financing for the property from Mike Freno of Barings and Bill Huffman of Nuveen. The lenders had previously financed the property for Brookfield over a decade ago. Specific loan terms related to this acquisition were not disclosed.