GPI lands acquisition loan on Mattel-leased warehouse

A portion of the proceeds from the financing loan will go to renovating the R&D property in El Segundo

Los Angeles /
Nov.November 26, 2019 01:29 PM
2031 E. Mariposa Ave. and GPI's Cliff Goldstein and Drew Planting (Credit: Google Maps)
2031 E. Mariposa Ave. and GPI’s Cliff Goldstein and Drew Planting (Credit: Google Maps)

GPI Companies nabbed a $55.3 million acquisition loan for its purchase of an El Segundo warehouse that toymaker Mattel leases.

Global Atlantic Financial Group provided the debt on the 200,000-square-foot building, located at 2031 East Mariposa Avenue. GPI confirmed the loan deal.

Law firm Allen Matkins advised the Brentwood-based developer on the financing and CBRE was the broker that arranged the loan to buy the warehouse that Mattel uses for its research and development division.

GPI paid $84 million for the building, in a deal that closed in September. The seller was New York-based Angelo Gordon & Co.

The East Mariposa property was built in the 1940s as an aircraft fabrication facility, when El Segundo was a hub for aviation-related business. Today, the area has been attracting a growing number of media and technology firms.

GPI has been active in the L.A. area. Earlier this month, the developer closed on $120 million in construction financing to redevelop what had been the Macy’s department store in the former Westside Pavilion. Construction of West End is underway and is projected to wrap up in early 2021.


Related Articles

arrow_forward_ios
(Google Maps)

Here’s what tenants are paying at Torrance Towne Center mall

Here’s what tenants are paying at Torrance Towne Center mall
Beyond Meat founder and CEO Ethan Brown, Hackamn Capital Partner's Michael Hackman and renderings of 888 Douglas. (Beyond Meat, Hackman, 888 Douglas)

Beyond Meat inks 280K sf lease at Hackman’s 888 Douglas

Beyond Meat inks 280K sf lease at Hackman’s 888 Douglas
Mayor Eric Garcetti (Getty, iStock)

LA mulls tougher Covid restrictions on malls, retailers

LA mulls tougher Covid restrictions on malls, retailers
Faring CEO Jason Illoulian and blueprints of the complex. (City of Carson, Jason Iloulian)

Faring plans massive residential complex in Carson

Faring plans massive residential complex in Carson
The future of San Francisco’s Oceanwide Center is up in the air again (Getty, Foster and Partners)

Contractors pull out as Oceanwide Center sale falls through again

Contractors pull out as Oceanwide Center sale falls through again
Neil Shekhter (Shekhter by Kevin Scanlon; iStock)

Santa Monica mega-portfolio officially hits market

Santa Monica mega-portfolio officially hits market
Mitchell Englander (Getty)

No jail time for ex-LA councilmember would be “two-tier” justice system: prosecutors

No jail time for ex-LA councilmember would be “two-tier” justice system: prosecutors
Madison Capital's Jonathan Nachmani and Harvest Properties' John Winther with 360 Spear Street (Google Maps)

Madison Capital, PGIM sell revamped San Fran office for $165M

Madison Capital, PGIM sell revamped San Fran office for $165M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...