Worthe Real Estate, Stockbridge secure $475m financing for Second Century Development in Burbank, Calif.

Worthe Real Estate Group in collaboration with Stockbridge has closed a $475 million fixed-rate securitized mortgage to finance Second Century, the recently completed 800,000-square-foot office project leased to Warner Bros. in the Burbank Media District in Burbank, Calif. The loan was securitized in a single asset, single borrower (SASB) CMBS transaction, led by Wells Fargo and Morgan Stanley.

In May 2023, Worthe and Stockbridge completed the development of Secord Century, which consists of two LEED-certified office buildings located on the southernmost portion of The Burbank Studios Lot, adjacent to the Warner Bros. main lot. Frank Gehry and the team at Gehry Partners design