PSRS SVP Mike Davis (right, snapped at the Kentucky Derby) arranged the $21.9M non-recourse loans with two life insurance firms for Steaven Jones Development Co for its MediaWorks campus in Marina del Rey. The loan is to pay off existing debt and finance future improvements.
MediaWorks is located at the corner of Culver Boulevard and the Marina (90) Freeway in Marina del Rey. Set on 4.5 acres, the property consists of more than 120k SF of creative office space that caters to tech, marketing and production companies. The buildings feature high ceilings, large skylights and operable windows.
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