Updated Oct 28, 2024
Deutsche Bank Provides $150M Refinance Loan For Mixed-Use Property In Downtown LA
1933 Broadway, Los Angeles, California 90007, United States
$150,000,000
$872/SF
Building Size
172,021 SF
Asset Type
Mixed-use
Closing
May 16, 2022
About this deal
AI
The mixed-use property located at 1933 South Broadway in Downtown LA has undergone a refinancing transaction. The loan, valued at $150,000,000, was secured from Deutsche Bank. The ten-year loan terms are interest-only.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $150,000,000
- Loan Type: Refinance
- Loan Terms: 10-year, interest-only
As part of this loan refinance, the property's landlord, Ara Tavitian of Kanon Ventures, played a crucial role. Their representation in the deal ensures the smooth execution of the refinancing process.
Players
Santa Monica 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93