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Carlton Fields Represents Primestor Development in High-Profile SoCal Real Estate Transaction
July 22, 2022

Carlton Fields represented an affiliate of Primestor Development in connection with the financing of a transaction, which involves a long-term ground lease from Los Angeles County for a mixed-use development that will include retail stores anchored by a Target, affordable homes for seniors and families (which is being developed by another group), a Metro training facility, and access to public transit and other transportation amenities to serve a historically marginalized and underserved neighborhood.

The financing involves several lenders and includes construction financing, New Markets Tax Credit financing, and a HUD loan facilitated by Los Angeles County, which closed on June 3, 2022. The project is expected to be completed in 2024.

Founded in 1991, Primestor Development is a high-profile development company based in Southern California that specializes in development and managing properties in urban areas.

The Carlton Fields team included Los Angeles attorneys Robert Friedman and Scott Page.
Featuring
Image: Robert P. Friedman
Robert P. Friedman
Image: Scott D. Page
Scott D. Page
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