Maguire Investments announced that it has secured a $105 million loan to recapitalize the Water's Edge office campus in Los Angeles, with financing arranged by Rob Verrone of Iron Hound Management. Maguire said that the money will be used for tenant improvements and leasing commissions for new leases on available space. The company has also retained Jones Lang LaSalle to manage leasing at the property.
"We have the team and capital to aggressively get deals done at Water's Edge," said Rob Maguire, Chief Executive Officer of Maguire Investments. "We offer a seamless and obstacle-free opportunity for companies to relocate to Los Angeles' premier campus environment featuring spectacular views and abundant amenities."
The 6.5 acre creative office campus in the Los Angeles submarket of Playa Vista was designed by Gensler. The 58,000-square-foot, green glass–sheathed Water's Edge I and the four-story, 185,000-square-foot Water's Edge II were developed in 2002 by a JV of Maguire Partners and Equity Office Partners at a total cost of $77 million, according to a Commercial Property Executive report.
For more news and information visit Blumberg Capital Partners.
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