Rezul News/10353790

LOS ANGELES - Jan. 12, 2018 - Rezul -- George Smith Partners, a leading, national provider of debt and equity capital market services to the commercial real estate industry and Dekel Capital (http://dekelcapital.com/), a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, recently arranged $122 million in JV-Equity and non-recourse Bridge Financing for sponsors Urban Offerings and ESI Ventures. Proceeds will be used to develop a 250,000 square foot Class-A Creative Office Campus in downtown Los Angeles's Fashion District.

The financing involves two properties: the re-capitalization of sponsor's ongoing renovations on the Norton Building, a five-story office property located on S. Los Angeles Ave at 8^th Street, as well as the acquisition and full repositioning of the Deardens building, a four-story property located on S. Main Street at 7^th Street, which had operated as a department store since the early 1900's.

More on Rezul News

• Zoopar To Donate Portion Of Online Sales In May To Freedom Service Dogs
• Parkland school presentation marks launch of Florida author's North American Student Speaking Tour
• Enterprise Telemedicine Platform from REACH Health Expands to Include Pediatrics
• OpenEMR Version 5.0.1 Released: Ushers in Golden Age for OpenEMR
• Productivity Specialist Emily Parks Creates Corporate Workshops for Businesses' Increased Productivity & Profit
• Laurie Schoendorfer Education Endowment is Created
• MindGenius launches 2018 version with promise of six appeal

George Smith Partners and Dekel Capital utilized their extensive networks to identify a JV-Equity investor and Bridge Lender that were capable of understanding the unique positioning and attractive location of the properties, and could provide competitive financing terms.

"The project offers a rare opportunity to access historic properties with larger floorplates and high ceilings that are in high demand from national tenants that are looking to be part of the burgeoning downtown creative ecosystem, and attract top talent to an office setting that they can truly make their own," said Shlomi Ronen, Managing Partner of Dekel Capital.

The properties are strategically located on the border between the Fashion District and the Historic Core, where there is a lack of quality options for office tenants. Residential development is already in full swing in the immediate area, with institutional players currently building multiple residential high-rise towers on the same block. The properties are surrounded by boutique shopping, upscale, trendy restaurants and are walkable to the cultural entertainment along Downtown's historic Broadway District and LA Live.

More on Rezul News

• Proxima Sales Announced the Acquisition of Proxima Business Operations by Partner Group
• Achieving Enterprise-Wide Agile Transformation
• "Hey mom I'm a Vegetarian" — A Child's Vegetarian Cookbook by Leya Glazer
• U.S. + German Officials Team Up to Foster More Welcoming Communities
• UC Master Gardeners to open new gardening education center in San Mateo
• Will you come home with something more than a haircut next time you go to the salon? We don't want to nitpick but you may have to
• Five Star Professional Awards the 2018 Five Star Real Estate Agent Award to Linda Adams, Realty ONE Group

"The Historic Core and Fashion District area of Downtown Los Angeles is truly going through a modern-day renaissance. From the re-development of historic buildings to hotels, multifamily & creative office; the area is attracting the energy and momentum that initially brought the earliest of settlers to the city of Los Angeles. We were honored to be a part of this amazing project and we are thrilled to have assisted Urban Offerings and ESI Ventures in the capitalization of the project," said Malcolm Davies, Principal/Director at George Smith Partners.