Blackstone and LBA Realty are set to close a $270 million commercial mortgage-backed securities refinancing for One Culver, an office campus in Culver City, California.
The financing is expected to be provided by Nomura Holdings and Nomura Group for the 378,377-square-foot property at 10000 Washington Boulevard. The transaction would replace existing debt with securitized financing tied to the office asset.
One Culver sits in a key Los Angeles office submarket, where landlords and lenders continue to assess the value and financing prospects of large workplace properties. The refinancing is notable for its scale and for the participation of Nomura in the loan.
The planned deal was first reported by Commercial Observer. Terms beyond the $270 million loan amount were not disclosed in the report.
