SANTA MONICA, CALIF. — Phase I of the Water Garden office complex in Santa Monica has received a $260-million refinancing. The complex is located at 2425 Olympic Blvd. and 1620 26th Street.
Phase I includes 673,660 square feet situated in two, six-story office buildings. Tenants in this phase include Amazon, Edmonds, Group M Worldwide, Sony Computer Entertainment and AMC Networking Entertainment.
Phase I is part of the larger 1.27-million-square-foot Water Garden office complex. It sits catty-corner to a light rail station that will be completed next year.
The 12-year, fixed-rate loan was arranged by HFF’s Mike Tepedino, Paul Brindley and Jennifer Keller through New York Life Real Estate Investors. The borrower is composed of institutional investors advised by J.P. Morgan Asset Management.