Mesa West Capital has provided the joint venture of Brightstone Capital Partners and Artisan Realty Advisors with a $283.3 million loan for the acquisition and renovation of the Lantana Media Campus, a 478,713-square-foot office complex in Santa Monica, CA.
Lantana Media Campus is comprised of four distinct Class A office buildings on a 12-acre site on Olympic Boulevard and Exposition Boulevard in Santa Monica’s “Media District.” The office campus is leased to a variety of entertainment and media companies
The seven-year, floating rate non-recourse financing was originated out of the private lender’s open ended Mesa West Core Lending Fund, which provides lower leverage first mortgage loans up to $300 million on stabilized core assets. A portion of the loan proceeds will be used to help fund a comprehensive, multi-million dollar renovation program, according to Mesa West’s Steve Fried and Jason Bressler, who led the origination team out of the firm’s Los Angeles office.
“The principals of Brightstone and Artisan have previously executed value-add business plans on high-quality assets throughout the country,” said Fried. “We are confident in their ability to do the same with the Lantana Media Campus, a landmark asset in the supply-constrained Santa Monica market.”
Planned upgrades to the property include fresh, contemporary approaches to the lobbies, elevators and restrooms, as well as new enhancements designed to activate and energize interior private courtyards and the addition of a robust, on-site amenity package.
