Updated Dec 4, 2024
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
$355,000,000
$11,349/SF
Building Size
31,278 SF
Asset Type
Hotel
Closing
Apr 28, 2019
About this deal
AI
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
Los Angeles Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93