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Jonathon K. Yormak's East End Capital Secures $130M Construction Loan In Los Angeles

Property Image
FINANCED
$130,000,000

California

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Development Site
Financed 06/17/2024
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Property Image
FINANCED

Jonathon K. Yormak's East End Capital Secures $130M Construction Loan In Los Angeles

2233 Jesse Street & 2241 Jesse Street

See Similar Deals
Development Site
Financed 06/17/2024
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan

The development site located at 2233-2241 Jesse Street in Los Angeles spans 5 acres and has a building size of 250,000 square feet. The property is set to become East End Studios - Mission Campus, featuring five soundstages and extensive post-production facilities in the Arts District.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $130,000,000
  • Market: Los Angeles
  • Lender: Centennial Bank & Monroe Capital
  • Landlord: Jonathon K. Yormak - East End Capital
  • Broker: Greg Grant - CBRE
  • Loan Type: Construction Loan

Jonathon K. Yormak of East End Capital, in collaboration with Greg Grant of CBRE, has successfully secured $130 million in construction financing for the development of East End Studios - Mission Campus. The project is on schedule for completion by the end of the upcoming year and will enhance the film and media production capabilities in Downtown Los Angeles.

Players

Greg Grant
CBRE
Greg Grant
7 deals$577.2M volume
BROKER
Monroe Capital
Monroe Capital
LENDER
Centennial Bank
Centennial Bank
LENDER

Details

FINANCED
IMAGE: Jonathon K. Yormak & Greg Grant DATE: 06/17/2024 ADDRESS: 2233-2241 Jesse Street MARKET: Los Angeles ASSET TYPE: Development Site ~ BSF: 250,000 ~ ACRES: 5 LENDER: Centennial Bank (@my100bank) & Monroe Capital LANDLORD: Jonathon K. Yormak - East End Capital (@EastEndCapital) BROKER: Greg Grant - CBRE (@CBRE) LOAN AMOUNT: $130,000,000 LOAN TYPE: Construction Loan NOTE: East End Studios, under East End Capital, has secured $130 million in construction financing to develop a 250,000-square-foot studio in Downtown Los Angeles. The project, named East End Studios – Mission Campus, will feature five soundstages and extensive post-production facilities across 5 acres in the Arts District, scheduled for completion by the end of next year. #

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$130,000,000.00

Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00