Beverly Hills, CA

24,000 SF Office Property
Beverly Hills, CA

Buchanan Mortgage Holdings, LLC provided a $21,185,000 (69% LTC; 63% LTV) construction loan for the development of a 3-story jewel-box commercial property located in Beverly Hills, California.  Situated on Olympic Boulevard and proximate to the Golden Triangle, the property will be one of the first new ground-up commercial developments to deliver in Beverly Hills in several decades. Upon completion it will feature two levels of Class A office space above ground floor office/retail, over 2,000 SF of dedicated outdoor space, and three levels of subterranean structured parking.  The sponsor, a prominent Beverly Hills-based developer of luxury rental apartments and for-sale condominiums, will occupy the top two floors as its new headquarters location. This is the first loan that BMH has closed with the sponsor.