[November 30], 2020 (LOS ANGELES, CA) – Greenland USA today announced the refinancing of THEA at Metropolis on November 25, 2020. The new $340,000,000 financing was issued by a combination of a first mortgage from funds managed by Apollo Global Management, Inc. (NYSE:APO), and a separate mezzanine loan from an undisclosed lender and replaces the previous $310,000,000 construction loan. Eastdil Secured arranged the financing.

THEA at Metropolis is a newly-completed residential building in Downtown Los Angeles (DTLA) consisting of 685 luxury rental units and approximately 28,000 square feet of commercial space. THEA is the final phase of the larger mixed-use development project called Metropolis, which spans a full city block in DTLA and also encompasses the 350-key boutique Hotel Indigo and luxury condominiums Tower I and Tower II, as well as multiple restaurants and retail spaces.

”We are extremely pleased to announce this loan closing today for THEA at Metropolis,” said Winston Yan, the General Manager of Greenland USA, Los Angeles. “This reaffirms Greenland USA’s vision for DTLA, and THEA is a beautiful capstone to our transformative Metropolis project in the heart of the city’s most exciting neighborhood”.

The 56-story luxury tower welcomed its first residents in September 2020. The amenity-rich property is one of the tallest residential towers on the west coast and features open floor plans and glass walls that offer expansive views. Located at the intersection of Eighth and Francisco Street, THEA is just two blocks from the LA Metro and benefits from convenient access to the 10, 110, and 101 freeways. Thea’s prime location in the heart of DTLA offers residents walkable access to the Staples Center, L.A. Live, and the vibrant restaurant and nightlife scene in DTLA.

About Greenland USA
Greenland USA is a leading developer of residential and commercial properties that transforms communities and is committed to the long-term health and vibrancy of the communities it serves. Greenland USA leverages its extensive international track record, commitment to design innovation, quality and efficiency and its local market expertise to bring landmark properties to fruition. It is currently developing the $1+ billion Metropolis project in Los Angeles and the $6+ billion Pacific Park project in Brooklyn. Established in 2013, Greenland USA is a subsidiary of Greenland Group, which is publicly traded on the Shanghai Stock Exchange (SSE) and ranked 176th among the Fortune Global 500 in 2020.