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Produce LA has secured $52 million in construction financing. The development is a mixed-use opportunity zone project in the Arts District neighborhood of Downtown Los Angeles.

The borrower secured a three-year loan, provided by a balance sheet lender, with a floating rate, two one-year extension options and full-term interest-only payments. Located at 640 South Santa Fe Avenue, the project is a 71,400 square foot development site located within an opportunity zone. When complete, the mixed-use development will stand four stories tall, span 113,600 square feet, and consist of class-A creative office space with restaurant and retail spaces on the ground floor and a 4,300 square foot rooftop terrace offering sweeping views of the Downtown Los Angeles skyline.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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