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
$76,000,000
$723/SF
Building Size
105,000 SF
Asset Type
Development Site
Closing
Aug 22, 2022
AI
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.
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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93