Century City Creative Office is a five story, steel frame office building containing a net rentable area of 24,323 sq. ft. The original construction was a Frank Gehry designed build-to-suit office building for Samuel Goldwyn (Metro Goldwyn Meyer). The property is currently 99% occupied. IBorrow’s loan was secured by a first deed of trust on the building in Century City (Los Angeles), CA. Office rents in the area are a minimum of $3.00/sf and the building alleviates a shortage of creative office in the area. Moreover, tenants are able to pay less in business taxes by being located outside of Beverly Hills, while still being close enough to the area to serve the entertainment business. The tenants include media businesses, entertainment companies, and a law practice. The proceeds from IBorrow’s loan were used to pay off existing lenders.
Century City, California