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Oliver McMillan LLC Secures $12.5 Million Loan From Zions Bancorporation For Culver Theater

Property Image
FINANCED
$12,500,000
Alex Olson
Joshua Blank
Sarah Kim

California

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Commercial41,341 SF
Financed 11/18/2024
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Property Image
FINANCED

Oliver McMillan LLC Secures $12.5 Million Loan From Zions Bancorporation For Culver Theater

9500 Culver Boulevard

See Similar Deals
Commercial41,341 SF
Financed 11/18/2024
Alex Olson
Joshua Blank
Sarah Kim
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Commercial
Price Per Square Foot:$302
Total Square Footage:41,341 SF
Transaction Type:Loan

The property involved in this transaction is a commercial asset located at 9500 Culver Boulevard in Culver City, California. Spanning 41,341 square feet, this fully occupied movie theater is leased to a global e-commerce giant. The Culver Theater features a six-screen format, sound stages, and a full-service bar, situated in a prime media district.

Summary of transaction details:

This transaction was arranged by JLL Capital Markets, securing senior financing for the Culver Theater through Zions Bancorporation. The deal involved the expertise of brokers Joshua Blank, Sarah Kim, and Alex Olson, who represented the financial aspects of the loan agreement.

Players

Alex Olson
JLL
Alex Olson
14 deals$398M volume
BROKER
Joshua Blank
JLL
Joshua Blank
4 deals$261.9M volume
BROKER
Sarah Kim
JLL
Sarah Kim
1 deal$12.5M volume
BROKER
Zions Bancorporation
Zions Bancorporation
LENDER

Details

FINANCED
IMAGE: Joshua Blank, Sarah Kim & Alex Olson DATE: 11/18/2024 ADDRESS: 9500 Culver Boulevard MARKET: Culver City ASSET TYPE: Commercial ~ SF: 41,341 LENDER: Zions Bancorporation LANDLORD: Oliver McMillan LLC BROKERS: Joshua Blank, Sarah Kim & Alex Olson - JLL (@JLL) LOAN AMOUNT: $12,500,000 LOAN TERMS: five-year, fixed-rate NOTE: JLL Capital Markets arranged $12.5 million in senior financing for the Culver Theater, a 41,341-square-foot movie theater in Culver City, California, securing the loan through Zions Bancorporation. The property, fully occupied and located in a prime media district, is leased to a global e-commerce giant and features a six-screen theater with sound stages and a full-service bar.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,500,000.00

Monthly NOI$83,333.33
Monthly Debt Service$79,008.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00