David Simon's Bardas Investment Group Secures $76M Loan For Development Site On Melrose Avenue In Los Angeles
FINANCED
$76,000,000
California
See Similar DealsDevelopment Site105,000 SF
Financed 08/23/2022
FINANCED
David Simon's Bardas Investment Group Secures $76M Loan For Development Site On Melrose Avenue In Los Angeles
6101 Melrose Avenue, Los Angeles, California 90038, United States
See Similar DealsDevelopment Site105,000 SF
Financed 08/23/2022
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$723
Total Square Footage:105,000 SF
Transaction Type:Loan
Deutsche Bank has provided a loan amount of $76,000,000 for the development site located at 6101 Melrose Avenue, 729 & 733 Seward Street in Los Angeles. This property asset spans a total square footage of 105,000 and is owned by Bardas Investment Group, with David Simon representing the landlord.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $76,000,000
- Address: 6101 Melrose Avenue, 729 & 733 Seward Street
- Market: Los Angeles
- Lender: Deutsche Bank
- Landlord: Bardas Investment Group - David Simon
David Simon, representing Bardas Investment Group, has secured a loan amount of $76,000,000 from Deutsche Bank for the development site located at 6101 Melrose Avenue, 729 & 733 Seward Street in Los Angeles. This loan transaction facilitates the development of the property, spanning a total square footage of 105,000.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$76,000,000.00
Monthly NOI$506,666.67
Monthly Debt Service$480,371.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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