Development Site In DTLA Secures $23M Loan From Bank Hapoalim International
1600 South Figueroa Street, Los Angeles, CA 90015, USA
$23,000,000
$1,957/SF
Building Size
11,750 SF
Asset Type
Development Site
Closing
Jan 21, 2019
AI
A development site located at 1600 S. Figueroa in Downtown Los Angeles has been involved in a recent transaction. The deal, which took place on January 22, 2019, resulted in a loan of $23 million. The loan has a term of 5 years, with 18 months of interest-only payments. The lender, Gabriel Hamani from Bank Hapoalim International, provided the funds for this transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $23 million
- Address: 1600 S. Figueroa, Downtown Los Angeles
- Market: DTLA
Adam Rubin from L&R Group and Wally Park from Joe's Auto Parks are the landlords involved in this deal. It is important to note that no additional information has been provided regarding the property or the transaction.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93