JLL Capital Markets has successfully arranged a senior financing of $12.5 million for the Culver Theater, a 41,341-square-foot movie theater located in Culver City. The borrower, Oliver McMillan LLC, was represented by a team led by director Alex Olson and supported by associate Joshua Blank and analyst Sarah Kim. The financing was secured through Zions Capital Markets and is set at a fixed rate for five years.
The Culver Theater was built in 2004 and is currently fully occupied. It offers an exceptional movie-going experience with six screens, full bar service, traditional theater snacks as well as kitchen fare options to choose from while enjoying plush seating arrangements. Additionally, there are six private sound stages available on-site. In June 2021 the space previously occupied by Arclight was leased to a global e-commerce giant which opened its doors to the public in early 2022.
According to Olson: “The location of the Culver Theater within the entertainment district of Culver City makes it an unparalleled opportunity.” He further added that this prime location coupled with long-term commitment from such reputable tenant made this loan highly attractive for Zions Capital Markets amidst current market conditions.
