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**Silver Creek Development Secures $71M Predevelopment Loan for Mixed-Use Project on Sunset Strip**
Newmark has successfully arranged a $71 million predevelopment loan for Silver Creek Development to kickstart 8850 Sunset, a forthcoming mixed-use development located on the iconic Sunset Strip in West Hollywood. The financing was secured by Jonathan Firestone, Co-President of Global Debt & Structured Finance, and Vice Chairman Blake Thompson.
The capital, provided by Centennial Bank in partnership with Crestline Investors, will support key predevelopment efforts including design planning and permitting processes. Construction on the project is expected to begin in the near future, with more details anticipated to follow as the development takes shape.
“8850 Sunset is poised to become a transformative mixed-use development, bringing an unparalleled level of sophistication and energy to the Sunset Strip,” said Firestone. “We are proud to have advised Silver Creek Development on securing the resources needed to bring this landmark project to life, and to have partnered with lenders Centennial and Crestline, who share our client’s ambitious vision.”
The development is set to bring new life to one of Los Angeles’ most vibrant corridors, marking a significant milestone in West Hollywood’s continued urban growth.
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