Assignment
Trimont was engaged by a large U.S. investment bank to provide asset management and servicing on a $75 million mezzanine loan.
Asset
LA Live is a 5.6 million square foot sports, entertainment, hotel, and residential development in downtown Los Angeles, CA. Trimont was involved in Phase II of the project which included construction of a 54-story tower containing an 878 room JW Marriot Convention Hotel, a 123 room Ritz Carlton Hotel, 224 luxury Ritz Carlton branded condo residences, a 2,600 space subterranean parking structure, and a 79,400 sf conference center. The building is situated in a vibrant neighborhood with theaters, museums, broadcast studios, and the STAPLES Center, which is home to the LA Kings, LA Lakers, and LA Clippers. The development was one of only five in the world to earn the Urban Land Institute’s Global Award for Excellence in 2010.
Insights
- Thirty-four different types of blue-tinted glass were used on the building’s façade giving the building its unique glittering, geometric pattern.
- The high rise is the tallest residential building in Los Angeles and was the first skyscraper built in the downtown area in nearly two decades.
- Upper floors have larger floor plates than lower floors due to the tower’s distinctive shape, which expands outward as the building rises.