Updated Oct 29, 2024
Related Companies And CORE USA Acquire Mixed-Use Asset In DTLA With $630M Loan From Deutsche Bank
100 South Grand Avenue, San Pedro, CA 90731, USA
$630,000,000
$273,913/SF
Building Size
2,300 SF
Asset Type
Mixed-use
Closing
Nov 4, 2018
About this deal
AI
The Grand, a Frank Gehry-designed master planned project located at 100 South Grand Avenue in DTLA, has secured a loan of $630,000,000 from Deutsche Bank. The mixed-use development is aimed at revitalizing Downtown L.A.'s cultural and civic core and is being developed by Related Companies and CORE USA, a joint venture between China Harbour Engineering Company and CCCG Overseas Real Estate. Related previously announced that CORE USA would be investing $290 million in the project.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $630,000,000
- Lender: Deutsche Bank
- Landlord: Related Companies (Related Urban), CORE USA
William Witte, Stephen Ross, Christian Sewing, Jeff Blau, and Ken Himmel are key individuals involved in this transaction.
Players
Los Angeles Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93