facebook
Traded Co logo
Submit

Related California - William Witte Secures $385M Construction Loan For Downtown Santa Monica Mixed-use Development

Property Image
FINANCED
$385,000,000

California

See Similar Deals
Financed 02/06/2020
the dealplayerscompscontact
Property Image
FINANCED

Related California - William Witte Secures $385M Construction Loan For Downtown Santa Monica Mixed-use Development

Financed 02/06/2020
the dealplayerscompscontact
Contact now

Summary

Transaction Type:Loan

A mixed-use development located at the intersection of 7th Street Broadway & Lincoln Boulevard in Downtown Santa Monica has secured a construction loan worth $385,000,000.

Summary of transaction details

  • Property Type: Mixed-use Development
  • Transaction Amount: $385,000,000
  • Date: 02/06/2023
  • Address: Intersection of 7th Street Broadway & Lincoln Boulevard
  • Market: Downtown Santa Monica

The lender for this project is Bank of America, while the landlord is Related California - William Witte. The development will feature 280 apartments, a private park spanning 30,000 square feet, 35,000 square feet of retail space, and a Vons supermarket covering 55,000 square feet. The project aims to offer a diverse range of residential and commercial amenities to the community.

Players

Bank of America
Bank of America
LENDER
WW
Related Companies
William Witte
2 deals$415M volume
LANDLORD
WW
William Witte
2 deals$415M volume
LANDLORD

Details

FINANCED
IMAGE: William Witte DATE: 02/06/2023 ADDRESS: Intersection of 7th Street Broadway & Lincoln Boulevard MARKET: Downtown Santa Monica ASSET TYPE: Mixed-use Development LENDER: Bank of America (@BankofAmerica) LANDLORD: Related California - William Witte LOAN AMOUNT: $385,000,000 LOAN TYPE: Construction Loan NOTE: 280 apartments, a 30,000-square-foot private park, 35,000 square feet of retail space, and a 55,000-square-foot Vons supermarket.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$385,000,000.00

Monthly NOI$2,566,666.67
Monthly Debt Service$2,433,461.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00