Related Cos. receives $385m construction loan for mixed-use project in Santa Monica
Related Cos. has received a $385 million construction loan for its project 710 Broadway in Santa Monica, Calif.
The project consists of 280 apartments, a 30,000-square-foot private park, 35,000 square feet of retail space and a 55,000-square-foot Vons supermarket.
Related paid $73 million for the roughly 2.5-acre site last month, reported The Real Deal. The seller was Vons, which will continue to operate the store.
Construction is expected to start next month and finish by 2025.