Brentwood-based GPI Cos. announced Nov. 11 that it closed on $120 million in construction financing for West End, a $180 million redevelopment to convert the former Macy’s store at Westside Pavilion into office space.
Financing was provided by Acore Capital.
West End will have 230,000 square feet of office space and is being designed by HLW.
“This financing package is the first major step in delivering West End as an unparalleled office campus for modern companies,” Lee Wagman, a managing partner at GPI, said in a statement.
Construction is expected to be completed in 2021. Brokerage Jones Lang LaSalle Inc. is the leasing agent for the project.
The building is located next door to One Westside, the Westside Pavilion redevelopment from Hudson Pacific Properties Inc. and Macerich Co.
The project, which has been leased to Google, is expected to be completed in 2022. It will be a 584,000-square-foot creative office building.
Commercial real estate reporter Hannah Madans can be reached at firstname.lastname@example.org. Follow her on Twitter @HannahMadans
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