Updated Oct 28, 2024
Principal Life Insurance Company Provides $42M Loan For Mixed-Use Property In Culver City
10375 Washington Boulevard, Culver City, CA, USA
$42,000,000
$310/SF
Building Size
135,178 SF
Asset Type
Mixed-use
Closing
May 12, 2021
About this deal
AI
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.
Players
Culver City 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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93