Principal Life Insurance Company Provides $42M Loan For Mixed-Use Property In Culver City
FINANCED
$42,000,000
California
See Similar DealsMixed-use135,178 SF
Financed 05/13/2021
FINANCED
Principal Life Insurance Company Provides $42M Loan For Mixed-Use Property In Culver City
10375 Washington Boulevard, Culver City, CA, USA
See Similar DealsMixed-use135,178 SF
Financed 05/13/2021
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$310
Total Square Footage:135,178 SF
Transaction Type:Loan
The mixed-use property located at 10375 Washington Boulevard in Culver City has been involved in a closed transaction. The loan for this transaction was provided by Principal Life Insurance Company, with Daniel J. Houston representing the lender. The loan amount for the transaction was $42,000,000. The property spans a total of 135,178 square feet and includes 139 units.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $42,000,000
- Address: 10375 Washington Boulevard
- Market: Culver City
- Lender: Principal Life Insurance Company - Daniel J. Houston
- Units: 139
Frankie Murphy, representing Washington LP, served as the landlord in this transaction. The broker responsible for facilitating the deal was Alchemy Planning + Land Use.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,000,000.00
Monthly NOI$280,000.00
Monthly Debt Service$265,468.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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