Metropolis under construction downtown

Metropolis under construction downtown

Cottonwood Group, a downtown Los Angeles-based real estate investment firm, and Natixis, a French lender, have arranged a $310 million senior construction loan facility to complete the third luxury residential tower in Greenland USA’s Metropolis project.

Metropolis is a multi-billion-dollar condominium, hotel and retail development totaling 3.5 million square feet located along Francisco and 8th streets downtown.

The loan is for the completion of Metropolis Phase 2B – a 56-story, 1 million-square-foot tower comprised of 685 condos and nearly 26,600 square feet of retail space.

Cottonwood and Natixis acted as administrative agents and lead arrangers on the financing, Cottonwood said in a statement.

Real estate reporter Ciaran McEvoy can be reached at cmcevoy@labusinessjournal.com or (323) 556-8337.