Lincoln Property Company Lands $65M Refi for L.A. Office Complex

The mixed-use asset features 583,580 square feet near Culver City and Baldwin Hills


The owner of Wateridge, a six-building office and retail campus with 583,580 square feet on Los Angeles’ Westside, has secured refinancing, JLL (JLL) announced Tuesday.

An affiliate of Lincoln Property Company landed the five-year, fixed-rate loan for $65 million from Deutsche Bank (DB). The asset is 80 percent leased to tenants that include Kaiser Health Foundation, the County of L.A. and Providence Health.

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Wateridge was built between 1989 and 2005 at La Cienega Boulevard and West Slauson Avenue, between Baldwin Hills and Culver City. The 21-acre campus features three office buildings, a medical office, a 24-hour fitness facility and a strip retail center. Property records show the asset at 5035-5150 Goldleaf Circle last traded hands for $100 million in June 2016.

JLL’s capital markets team of Todd Sugimoto, Mark Wintner and Chad Morgan represented the borrower in securing the funds. 

Gregory Cornfield can be reached at