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Development Site In DTLA Secures $23M Loan From Bank Hapoalim International

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FINANCED
$23,000,000

California

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Development Site11,750 SF
Financed 01/22/2019
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Property Image
FINANCED

Development Site In DTLA Secures $23M Loan From Bank Hapoalim International

1600 South Figueroa Street, Los Angeles, CA 90015, USA

See Similar Deals
Development Site11,750 SF
Financed 01/22/2019
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$1,957
Total Square Footage:11,750 SF
Transaction Type:Loan

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

GH
Northwind Group
Gabriel Hamani
2 deals$58M volume
LENDER
GH
Bank Hapoalim (BHI)
Gabriel Hamani
2 deals$58M volume
LENDER
Bank Hapoalim (BHI)
Bank Hapoalim (BHI)
LENDER

Details

FINANCED
IMAGE: Gabriel Hamani & Adam Rubin DATE: 1/22/2019 ADDRESS: 1600 S. Figueroa MARKET: DTLA ASSET TYPE: Development Site LOAN AMOUNT: $23M TERM: 5 years, 18 months i/o LENDER: Gabriel Hamani - Bank Hapoalim International LANDLORD: Adam Rubin - L&R Group & Wally Park - Joe's Auto Parks

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$23,000,000.00

Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00