(The following is a reformatted version of a press release
issued by Maguire Investments and received via electronic mail.
The release was confirmed by the sender.)
Maguire Investments Obtains $105M Recapitalization Loan for the
Prestigious Water’s Edge Office Campus in Playa Vista
Firm retains Jones Lang LaSalle to handle leasing at the premier
LOS ANGELES., March 21, 2013 - Maguire Investments has obtained
a $105 million loan for the recapitalization of Water’s Edge, a
6.5 acre amenity rich, creative office campus in the Los Angeles
submarket of Playa Vista. The funds will be used for tenant
improvements and leasing commissions for new leases on available
space. The financing was arranged for Maguire by Rob Verrone of
Iron Hound Management.
Maguire Investments has also retained Jones Lang LaSalle to
handle the leasing at the premier property. Leading the leasing
efforts for the property are Jones Lang LaSalle Los Angeles team
members Chris Strickfaden, Anthony Gatti, Brian Niehaus and
Phase I of Water’s Edge, which includes two buildings totaling
260,000 square feet, has immediate availability for users
ranging for 8,000 to 71,000 square feet, including the 50,000
square foot top floor featuring panoramic views from the ocean
to the snow caps on Mt. Baldy. This property is also entitled
for a 180,000-square-foot Phase II building which the company
will start when preleasing is completed.
“We have the team and capital to aggressively get deals done at
Water’s Edge,” said Rob Maguire, Chief Executive Officer,
Maguire Investments “We offer a seamless and obstacle-free
opportunity for companies to relocate to Los Angeles’ premier
campus environment featuring spectacular views and abundant
Designed by Gensler, Water’s Edge is Los Angeles’ premier
creative office campus featuring unsurpassed amenities,
breathtaking views and first-class ownership. The campus offers
tenants a very desirable lifestyle environment with numerous
onsite amenities, including a café, soccer field and 31,000-square-foot flagship LA Fitness with full court basketball, sand
volleyball and an outdoor swimming pool which will open on the
campus in summer 2013. Water’s Edge is situated adjacent to 350
acres of open space at the Ballona Preserve, providing vast
biking and jogging trails leading to the Pacific Ocean. The
property is ideally located with easy access from Pacific Coast
Highway, I-405 Freeway and SR 90 Freeway.
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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and
investment management firm offering specialized real estate
services to clients seeking increased value by owning, occupying
and investing in real estate. With annual revenue of $3.9
billion, Jones Lang LaSalle operates in 70 countries from more
than 1,000 locations worldwide. On behalf of its clients, the
firm provides management and real estate outsourcing services to
a property portfolio of 2.6 billion square feet. Its investment
management business, LaSalle Investment Management, has $47.0
billion of real estate assets under management. For further
information, visit www.jll.com.
+1 949 278 7851
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