LA’s Broadway Trade Center obtains $140m loan from Canyon Capital, Hudson pacific

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LA’s Broadway Trade Center obtains 0m loan from Canyon Capital, Hudson pacific.jpg The joint venture will receive $140m as a bridging loan from Canyon and Hudson, with the first tranche already being funded by the partners.

Broadway Trade Center was completed during 1908.  The nine-level building originally housed A. Hamburger & Sons department store until the property was purchased by May Co. during 1923.  Under this ownership, the retail store remained until the middle 1980s when the structure turned into a multi-use retail trade center.  Now, more than one hundred years later, the building is set to start a new life.

It is the intention of Waterbridge and Jangana to change the traditional property into a premier site which will offer retail space on the ground and second levels, along with office space that will bear in mind the building’s historic architecture.

A director at Canyon Capital, Charlie Rose, stated their pleasure at being involved with this project set to transform the building.

LA’s Broadway Trade Center obtains 0m loan from Canyon Capital, Hudson pacific-1.jpg  

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