$1.25B Construction Loan Closing Scheduled Today for Terminal Warehouse Redevelopment

Blackstone, Goldman Sachs, and KKR are leading the financing for the planned redevelopment of the Terminal Warehouse, with Oaktree Capital Management and Paramount Group in the mezzanine position. L&L Holding Company and Columbia Property Trust are expected to close today on the $1.25 billion construction loan that will help fund the ongoing major repositioning and redesign of 500,000 square feet of self-storage space to Class A Office use. As part of the project, a carved courtyard will be created at the center of the property, and a new penthouse addition will add outdoor terraces.

Source:    https://commercialobserver.com/2021/07/blackstone-goldman-kkr-ll-columbia/