Relevant Group Obtains $28.4M Non-Recourse Land Predevelopment Loan For West Pico Boulevard Development Site
West Pico Boulevard, Los Angeles, CA, USA
$28,430,000
$47/SF
Building Size
600,000 SF
Asset Type
Development Site
Closing
Nov 29, 2021
AI
The development site located at West Pico Boulevard in Los Angeles has undergone a recent loan transaction. The property is owned by Relevant Group and was represented by broker Nina Russo from Meridian Capital Group. The loan amount for this transaction was $28,430,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $28,430,000
- Image: Nina Russo
- Date: 11/30/2021
- Address: West Pico Boulevard
- Market: Los Angeles
- Asset Type: Development Site
- Building Square Footage (BSF): 600,000
The loan transaction was a recapitalization, and the loan type was a non-recourse land predevelopment loan.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93