Blackstone and LBA Realty Secure $270M Refinancing for One Culver Office Campus in Culver City

Blackstone and LBA Realty are set to close a $270 million commercial mortgage-backed securities (CMBS) refinancing for their One Culver office campus located at 10000 Washington Boulevard in Culver City. The loan is being provided by Nomura Holdings and its brokerage arm, Nomura Group. This financing initiative is intended to retire approximately $310 million in existing debt and cover an additional $5.8 million in closing costs.

The 378,377-square-foot One Culver complex features office space, three soundstages, retail shops, restaurants, and an Equinox gym. It is strategically situated adjacent to Sony Pictures Studios and near Amazon Studios and Sony Pictures Animation. Blackstone holds a 90 percent stake in the property, having partnered with LBA Realty over four years ago in a recapitalization deal valued at more than $500 million. LBA Realty originally acquired the property in 2014 for $159 million and completed a Gensler-designed renovation in 2017. This refinancing helps stabilize a key asset in a prominent entertainment industry hub.