Stephen A. Schwarzman And Phil Belling Secure $270 Million Loan For One Culver Office Building

The property asset involved in this transaction is the One Culver office building, located at 10000 Washington Boulevard in Culver City, CA. This office asset encompasses a total square footage of 378,377 and is part of a refinancing transaction valued at $270 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $270,000,000
• Lender: Nomura Holdings
• Landlord: Stephen A. Schwarzman - Blackstone
• Landlord: Phil Belling - LBA Realty
• Existing Debt Retired: $310,000,000
• Closing Costs: $5,800,000
• Stake Held by Blackstone: 90%
• Recapitalization Amount: $500,000,000
• Recapitalization Partner: LBA Realty
• Date of Transaction: 09/28/2026

This transaction features key individuals such as Stephen A. Schwarzman representing Blackstone and Phil Belling as the representative for LBA Realty. The refinancing transaction is structured through a CMBS loan, aimed at retiring existing debt while ensuring continued investment in the property.