Munger, Tolles & Olson represented Mack Real Estate Credit Strategies in financing a $54 million construction loan to redevelop an historic property located in downtown Los Angeles. The deal closed on March 21, 2018 and will finance the redevelopment of the Foreman & Clark Building, located at 701 S. Hill Street, into 124 residential apartments and ground floor retail.
The Foreman & Clark Building was opened in 1929, and has been declared a city historic-cultural monument. The redevelopment project will include preservation of the building’s Art Deco lobby.
The Munger, Tolles & Olson team includes Misty M. Sanford and Daniel Y. Benyamin.