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

The borrower secured a three-year loan, provided by a balancesheet lender, with a floating rate, two one-year extension optionsand full-term interest-only payments. Located at 640 South Santa FeAvenue, the project is a 71,400 square foot development sitelocated within an opportunity zone. When complete, the mixed-usedevelopment will stand four stories tall, span 113,600 square feet,and consist of class-A creative office space with restaurant andretail spaces on the ground floor and a 4,300 square foot rooftopterrace offering sweeping views of the Downtown Los Angelesskyline.

This transaction was negotiated by Meridiansenior managing director, Seth Grossman, and VP,Sarah Kuebler, who are both based in the company'sSouthern California offices.