Children's Investment Fund Provides $355M Loan For Hotel At 1248 S. Figueroa St, Los Angeles
FINANCED
$355,000,000
California
See Similar DealsHotel31,278 SF
Financed 04/29/2019
FINANCED
Children's Investment Fund Provides $355M Loan For Hotel At 1248 S. Figueroa St, Los Angeles
1248 South Figueroa Street, Los Angeles, CA 90015, USA
See Similar DealsHotel31,278 SF
Financed 04/29/2019
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$11,349
Total Square Footage:31,278 SF
Transaction Type:Loan
The hotel located at 1248 S. Figueroa St has been involved in a closed property transaction. The loan for this transaction was provided by Children's Investment Fund in the amount of $355 million. The property is owned by @LightstoneGroup and is classified as a hotel.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $355 million
Notable individuals involved in this deal include Ben Nevid, David Lichtenstein, Mitchell Hochberg, and Drew Anderman. The brokers who represented the transaction were Drew Anderman and Ben Nevid from Meridian Capital Group.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$355,000,000.00
Monthly NOI$2,366,666.67
Monthly Debt Service$2,243,841.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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