This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

U.S. Bank Provides $65 Million Construction Loan For Creative Office Campus In West Los Angeles

U.S. Bank and Hudson Pacific Properties have closed on a $65 million construction loan for the development of Element L.A., the largest creative office project in West Los Angeles. The 12-acre site is designed for companies aiming to encourage innovation and creative thinking in a nontraditional workspace.

“Creative office space is growing in Los Angeles,” said Adrian Metter, Los Angeles market manager for U.S. Bank Commercial Real Estate. “Element L.A. fits perfectly with the surrounding area and accommodates the demand from technology, media and creative industries for this type of commercial space. Hudson is a highly-respected developer throughout the West Coast with a tremendous understanding of this market.”

Hudson is renovating the five existing buildings on the sprawling Element L.A. campus, located at 1861, 1901, 1925, and 1933 South Bundy Drive and 12333 West Olympic Boulevard in Los Angeles, California. Element L.A. will feature high, wood bow truss ceilings, saw tooth skylights, industrial windows, outdoor amenities such as volleyball/basketball court, outdoor patios, bike shop, café, and a parking garage providing 4:1 ratio.

Element L.A. is one of nearly 6.2 million square feet of commercial properties that Hudson Pacific Properties owns and operates in the Pacific Northwest and Northern and Southern California. Other notable properties in Southern California include the Sunset Gower and Sunset Bronson media and entertainment studios in Hollywood and The Pinnacle I & II office buildings in Burbank.

“Element LA is poised to become one of Southern California’s most exceptional creative office campuses,” said Mark Lammas, Chief Financial Officer for Hudson Pacific Properties, Inc. “We are pleased to have U.S. Bank provide the financing for this important project.”

About Hudson Pacific PropertiesHudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office properties and state-of-the-art media and entertainment properties in select growth markets primarily in the Pacific Northwest and Northern and Southern California. The Company’s strategic investment program targets high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics in select target markets, including Los Angeles, Orange County, San Diego, San Francisco and Seattle. The Company’s portfolio currently consists of approximately 6.2 million square feet, not including undeveloped land that the Company believes can support an additional 1.6 million square feet. The Company has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Hudson Pacific Properties is a component of the Russell 2000® and the Russell 3000® indices.

About U.S. Bank Commercial Real EstateU.S. Bank Commercial Real Estate specializes in providing creative credit and non-credit financial solutions for real estate developers, REITs, and commercial property owners across the United States. U.S. Bank offers such services as construction/development lending, property acquisition lending, refinancing, lines of credit, and syndications. With an employee base of 400 professionals in 26 offices, U.S. Bank Commercial Real Estate builds long-term relationships designed to help American businesses grow.

About U.S. BankU.S. Bank has grown tremendously in California over the past five years, nearly doubling in size in both branch presence and the number of Californians it employs. U.S. Bank has 225 branches and more than 2,700 employees in the Los Angeles area alone. U.S. Bank is a proud community partner, with its employees spending nearly 3,000 hours volunteering with local organizations. Statewide, U.S. Bank provided nearly $10 million in contributions to the community.

U.S. Bancorp (NYSE: USB), with $361 billion in assets as of Sept. 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,088 banking offices in 25 states and 4,937 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.61 +0.66 0.03%
NASDAQ 4,463.93 +21.2320 0.48%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs