The new corporate headquarters and training facility leased to the Los Angeles Chargers in El Segundo has received a $276 million loan.
The project is being developed by El Segundo-based Continental Development Corp. and El Segundo-based Mar Ventures Inc. Continental Development is building the property and will act as the landlord.

The construction and permanent financing will be used for the 14-acre site which will include office space and three natural grass fields.
The money was provided by New York-based CTL Capital and Beverly Hills-based Sonnenblick-Eichner Co. arranged the loan.

“Continental Development Corp., one of the largest development companies in California, is a long-standing client of our firm,” David Sonnenblick, a principal at Sonnenblick-Eichner Co., said in a statement. “It is a pleasure working with such a top-quality firm, whose commitment to excellence is evidenced in all of their developments.”

Plans for the new headquarters and practice facility in El Segundo were announced late last year with an expected cost of more than $100 million.
Dean Spanos, owner and chairman of the Chargers, said in a statement at the time that the property’s location close to Los Angeles International Airport, SoFi Stadium and Silicon Beach made it desirable. The organization, he said, searched for more than four years for a place to call home.

The Chargers had announced plans to move to L.A. in 2016.
The project is being designed by Gensler and is expected to be completed in 2024.
The El Segundo site, currently parking lots and storage that Continental purchased from Raytheon Technologies Corp. years ago, will create a 145,000-square-foot facility south of El Segundo Boulevard and east of Pacific Coast Highway on Nash Street.

Continental is also using part of the land acquired from Raytheon to develop the Nash Street Exchange retail and office project.
The Chargers aren’t the only team in El Segundo. The Los Angeles Lakers and the Los Angeles Kings are also headquartered in the city.