**Creative Office Campus in West Adams Secures $32.4M in C-PACE Financing**
JLL Capital Markets has secured $32.4 million in C-PACE (Commercial Property Assessed Clean Energy) financing for Depot & Atlas, a 107,156-square-foot Class A creative office campus located in the West Adams submarket of Los Angeles.
JLL represented the borrower, The Luzzatto Company, in arranging the C-PACE capital through Nuveen Green Capital. The creative office development is situated at 3609–3645 10th Avenue and includes two premium office buildings featuring two levels of subterranean parking.
The Luzzatto Company acquired the property off-market in late 2019, drawn by its strategic location in a transit-oriented Opportunity Zone. Since the acquisition, the firm has completed construction of Depot, a 94,726-square-foot creative office building, in late 2023 and has redeveloped the adjacent Atlas building to complete the campus.
The financing was arranged by JLL’s Debt Advisory team, led by Senior Managing Director Jeff Sause and Associate Lauren Sackler.
“We were able to secure competitive C-PACE financing that allowed for a cash-neutral execution,” said Sause. “This transaction highlights the continued appeal of well-located creative office spaces in strategic submarkets like West Adams.”
