hackman-samitaur-culver-collection-upper-tier-2024

As part of a broader recapitalization of Samitaur Constructs' Culver City portfolio, HCP Culver Member, LLC, an affiliate of Hackman Capital Partners, entered into a convertible Upper Tier Facility with the borrower ownership structure tied to the Culver Collection. SEC materials report an outstanding principal amount of $91.8 million, potentially increasing to $100 million, conversion rights into an equity interest under specified terms, and asset-management authority for an HCP affiliate while Laurie Smith retained control over the borrower entities subject to the documented agreement structure.