J.H. Snyder Company Obtains $105 Million Loan For Mixed-Use Building On Wilshire Boulevard

The SAG-AFTRA Plaza building, located at 5757 Wilshire Boulevard in Los Angeles, has been involved in a recent closed property transaction. The mixed-use property, developed by J.H. Snyder Company, features 548,000 square feet of office space and 28,000 square feet of ground-floor retail space. The property is also known as the William G. McPadden and Jerry Snyder building, named after the lender and one of the key individuals in the deal.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $105 Million
• Landlord/Developer: J.H. Snyder Company
• Lender: John Hancock’s Real Estate Finance Group - William G. McPadden
• Loan Broker: Steven Feldman from Meridian Capital Group
• Term: 10-year fixed-rate Loan at under 4%

The loan amount for this transaction is $105 million, secured by the property. The loan was facilitated by Steven Feldman from Meridian Capital Group, acting as the loan broker. The lender, John Hancock’s Real Estate Finance Group, is represented by William G. McPadden. The terms of the loan include a 10-year fixed-rate loan at a rate below 4%. This transaction signifies stability in the real estate market with an attractive financing option for the property.

Jerry Snyder, a key individual in this deal, has plans to add a 21-story residential tower to the SAG-AFTRA Plaza building. This addition will further enhance the property's value and appeal to potential residents and tenants. The future development prospects make this transaction an exciting opportunity for both the developer and the landlord.