Michael Shvo & Serdar Bilgili Acquire $190M Development Site On Wilshire Boulevard
FINANCED
$190,000,000
California
See Similar DealsDevelopment Site300,000 SF
Financed 05/08/2019
FINANCED
Michael Shvo & Serdar Bilgili Acquire $190M Development Site On Wilshire Boulevard
9200 Wilshire Boulevard, Beverly Hills, CA, USA
See Similar DealsDevelopment Site300,000 SF
Financed 05/08/2019
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$633
Total Square Footage:300,000 SF
Transaction Type:Loan
A development site located at 9200 Wilshire Boulevard in Beverly Hills has been involved in a recent closed transaction. The property, with a total square footage of 300,000, was the subject of a loan transaction.
Summary of Transaction Details
- Property Type: Development site
- Loan Amount: $190,000,000
- Units: 54
- Market: Beverly Hills
- Lender: ACORE Capital
- Developer: Michael Shvo, Serdar Bilgili (Bilgili Group)
The loan amount for this transaction was $190,000,000. The development site consists of 54 units and is located at 9200 Wilshire Boulevard in Beverly Hills. The lender for this transaction was ACORE Capital, while the developer involved in the project is Michael Shvo and Serdar Bilgili, representing the Bilgili Group. The property is situated in the market of Beverly Hills.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$190,000,000.00
Monthly NOI$1,266,666.67
Monthly Debt Service$1,200,929.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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