Updated Nov 27, 2024
Goldman Sachs & Barclays Provide $900M Loan For Mixed-Use Property In Hollywood
1040 N Las Palmas Ave, Los Angeles, CA 90038, USA
$900,000,000
$409/SF
Building Size
2,200,000 SF
Asset Type
Mixed-use
Closing
Jul 2, 2020
About this deal
AI
Three properties located at 5800 Sunset Blvd, 1438 N Gower St, and 1040 N Las Palmas Ave in the Hollywood market have recently been involved in a closed property transaction. The asset type of these properties is mixed-use. The loan for this transaction was provided by Goldman Sachs and Barclays, with a loan amount of $900,000,000. The loan terms are five-year floating-rate.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $900,000,000
- Address: 5800 Sunset Blvd, 1438 N Gower St, 1040 N Las Palmas Ave
- Market: Hollywood
Key individuals and companies involved in this transaction include Stephen Schwarzman, Kathleen McСarthy, Jonathan Gray, Ken Caplan, and Harout Diramerian. The landlords in this deal are Blackstone and Hudson Pacific Properties, with Harout Diramerian representing them. It is important to note that no further details were provided regarding the specific roles of the individuals and companies in the transaction.
Players
Los Angeles 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
0.02%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93