GR Properties USA Secures $42 Million Refinance Loan From Castellan Capital For Santa Monica Mixed-Use Complex
2300 Wilshire Boulevard
$42,000,000
$264/SF
Building Size
159,000 SF
Asset Type
Mixed-use
Closing
Nov 18, 2025
AI
The mixed-use complex involved in this transaction is located at 2300 Wilshire Boulevard in Santa Monica, comprising 159,000 square feet of space. The asset includes 30 residential condominiums along with 23,600 square feet of retail space, notably anchored by Trader Joe's.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $42,000,000
- Lender: Paul Salib - Castellan Capital
- Landlord: GR Properties USA
- Loan Type: Refinance
- Date: 11/18/2025
The transaction features representation by Paul Salib, who is associated with Castellan Capital, facilitating the refinancing process for the landlord, GR Properties USA, during this deal.
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
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93