Law360 covered Manatt’s representation of Bohannon Cos. in negotiating a $145 million construction loan via Square Mile Capital Management LLC. The Manatt team was led by Clay Gantz, a partner in the firm’s real estate practice.
Bohannon’s loan will be used to develop a 210,000-square foot property in Menlo Park, California, that will include office space, a 41,000-square-foot fitness center and 1,040 parking spots. The project, located at 100 Independence Drive, is one of two phases of a larger three-building project. The first phase is expected to open in late 2017, with the two additional buildings in phase two adding another roughly 500,000 square feet.
Each of the three buildings will have eight stories. The developer is aiming for LEED-gold certification for the project, which has environmentally-friendly features including enhanced energy, water, air quality, and lighting efficiencies.
In addition to Gantz, the team included counsel Scott Johnson and associate Ann Levin, with the assistance of partners Alvin Levitt, Hal Reichwald, David Herbst and Jeff Mannisto.
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