But it ain’t Nissani’s first rodeo on the car dealership front. This is Nissani’s first venture into large-scale mixed-use development, hence securing an experienced developer like Lincoln.

Nissani, through Antonio Hachem of PSRS in Los Angeles, acquired a $64.5 million non-recourse bridge loan from a life insurance lender to acquire the site and complete the renovation of the building that constitutes the project’s first phase. However, the project is likely to be large and to include multiple uses, he said. Lincoln will be taking all comments and input from the community to see what’s viable.”īy signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.īinswanger said there will be a minimum of several months of community input before any plan is put forth. “It’s a tremendous piece of land that has its challenges. “We have to determine the highest and best use for the site,” said David Binswanger, who will be heading up the efforts of Lincoln Property Company, which will act as Nissani’s real estate arm throughout the second phase. Nissani has hired Dallas-based Lincoln Property Company, which developed Runway Playa Vista and a host of other major projects across Los Angeles, as a third-party operator spearheading the second phase of development. Nissani said he is not yet in the entitlement process. The land is not currently entitled for residential or hotel uses. “It will be one of the largest projects ever done in automotive history,” Nissani said. It would include eight dealerships and buildings with other uses, such as a hotel and/or a residential tower, he said, depending on what he can get entitled. In the second phase, the renovated building would be demolished to make way for a mixed-use complex, Nissani said.

However, it’s essentially being built to be destroyed.

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