Deutsche Bank Provides $266M Loan For Broadway Palace Apts In DTLA
FINANCED
$266,000,000
California
See Similar DealsMixed-use277,250 SF
Financed 02/18/2019
FINANCED
Deutsche Bank Provides $266M Loan For Broadway Palace Apts In DTLA
Broadway Palace Apartments, South Broadway, Los Angeles, CA, USA
See Similar DealsMixed-use277,250 SF
Financed 02/18/2019
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$959
Total Square Footage:277,250 SF
Transaction Type:Loan
The Broadway Palace Apartments, located in DTLA, recently closed on a mixed-use property transaction. The deal was completed on February 18, 2019. The property, owned by Adam Rubin of L&R Group and Geoffrey H. Palmer, has garnered attention in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Date: February 18, 2019
- Address: Broadway Palace Apts, DTLA
Deutsche Bank provided the loan for this transaction, amounting to $266M. The loan terms include a 10-year interest-only period.
Adam Rubin, representing the L&R Group, and Geoffrey H. Palmer served as the respective landlords in this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$266,000,000.00
Monthly NOI$1,773,333.33
Monthly Debt Service$1,681,300.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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