From Los Angeles Business Journal · staff-author · · 50s
Anderson Lands $550 Million Refi
Anderson Real Estate secures $550 million refi for Anderson Towers after five-year renovation.
In brief
Anderson Real Estate secures $550 million refi for Anderson Towers after five-year renovation. Anderson Real Estate refinanced $550 million for Anderson Towers following a $300 million renovation. Originally reported by Los Angeles Business Journal.
Anderson Lands $550 Million Refi
Anderson Real Estate scored a $550 million loan package to refinance Anderson Towers after completing a years-long renovation.
Loan Details
Wells Fargo and JPMorgan Chase provided the commercial mortgage-backed securities loan for the two-building office campus at 1800 and 1900 Avenue of the Stars in Century City.
Renovation Impact
The deal refinances about $300 million of debt Anderson took on to renovate the 1960s office towers over the past five years.
Leasing Boost
The overhaul boosted demand for office space at the 940,000-square-foot complex, which Anderson says is 98% leased after the firm inked some 875,000 square feet of deals since 2022.
The takeaway
Anderson Real Estate refinanced $550 million for Anderson Towers following a $300 million renovation.
