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Lightstone Capital Provides $44M Loan For Mixed-Use Property In Santa Monica

Property Image
FINANCED
$44,000,000

California

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Mixed-use6,000 SF
Financed 09/16/2019
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Property Image
FINANCED

Lightstone Capital Provides $44M Loan For Mixed-Use Property In Santa Monica

1650 Lincoln Boulevard, Santa Monica, CA, USA

See Similar Deals
Mixed-use6,000 SF
Financed 09/16/2019
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$7,333
Total Square Footage:6,000 SF
Transaction Type:Loan

The mixed-use property located at 1650 Lincoln Boulevard and 1543–1547 7th Street in Santa Monica has recently been involved in a closed transaction. This property, situated in a desirable market, consists of 198 units and has attracted the attention of notable individuals in the real estate industry.

Summary of transaction details

  • Property Type: Mixed-Use
  • Transaction Date: 09/16/2019
  • Address: 1650 Lincoln Boulevard & 1543–1547 7th Street, Santa Monica
  • Market: Santa Monica
  • Landlord: WS Communities
  • Lender: Lightstone Capital
  • Loan Amount: $44,000,000
  • Units: 198

Eugene Rozovsky, David Lichtenstein, Mitchell C. Hochberg, and Neil Shekhter were involved in the transaction as representatives of the individuals and companies associated with the property. Their presence underscores the significance of this closed deal and highlights their expertise in handling complex real estate transactions in the market.

Players

Lightstone Group
Lightstone Group
LENDER
WC
WS Communities
LANDLORD

Details

FINANCED
IMAGE: Eugene Rozovsky, David Lichtenstein, Mitchell C. Hochberg & Neil Shekhter DATE: 09/16/2019 ADDRESS: 1650 Lincoln Boulevard & 1543–1547 7th Street MARKET: Santa Monica ASSET TYPE: Mixed-Use LENDER: Lightstone Capital LANDLORD: WS Communities LOAN AMOUNT: $44,000,000 UNITS: 198

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$44,000,000.00

Monthly NOI$293,333.33
Monthly Debt Service$278,109.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00