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LaTerra Development & Clarion Partners Secure $90M Loan For The Louise Luxury Community In Los Angeles

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FINANCED
$90,000,000
Max Schafer
Robert (Rob) Rubano
Brian Share
+ 1

California

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MultiFamily
Financed 10/09/2023
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Property Image
FINANCED

LaTerra Development & Clarion Partners Secure $90M Loan For The Louise Luxury Community In Los Angeles

1633 Edgemont Street

See Similar Deals
MultiFamily
Financed 10/09/2023
Max Schafer
Robert (Rob) Rubano
Brian Share
+ 1
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

LaTerra Development and Clarion Partners have secured a $90 million loan for their 246-unit luxury community, The Louise, located at 1633 N Edgemont St in Los Angeles. The property is a multifamily asset and consists of 246 units. The loan was provided by PGIM Real Estate, with Jace Bertges acting as the lender's representative.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $90,000,000
  • Address: 1633 N Edgemont St
  • Market: Los Angeles
  • Asset Type: Multifamily
  • Units: 246

In addition to the lenders and borrowers, the deal involved several key individuals and companies. Charles Tourtellotte from LaTerra Development and David Gilbert from Clarion Partners acted as the landlords in the joint venture. The brokers representing the transaction were Brian Share, Becca Tse, Max Schafer, and Rob Rubano from Cushman & Wakefield.

Players

Brian Share
Cushman & Wakefield
Brian Share
23 deals$3.8B volume(310) 595-2231
BROKER
Robert (Rob) Rubano
Hines
Robert Rubano
34 deals$6.5B volume
BROKER
Max Schafer
Cushman & Wakefield
Max Schafer
10 deals$566.1M volume
BROKER
Becca Tse
Cushman & Wakefield
Becca Tse
3 deals$228.3M volume
BROKER
PGIM
PGIM
LENDER

Details

FINANCED
IMAGE: Becca Tse, David Gilbert, Rob Rubano, Max Schafer, Brian Share, Jace Bertges & Charles Tourtellotte DATE: 10/09/2023 ADDRESS: 1633 N Edgemont St MARKET: Los Angeles ASSET TYPE: Multifamily ~ UNITS: 246 LENDER: PGIM Real Estate (@PGIM) - Jace Bertges LANDLORD: Charles Tourtellotte - LaTerra Development & David Gilbert - Clarion Partners BROKERS: Brian Share, Becca Tse, Max Schafer & Rob Rubano (@RobRubano) - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $90,000,000 NOTE: LaTerra Development and Clarion Partners, in a joint venture, have secured a $90 million loan for their 246-unit luxury community, The Louise, in Los Angeles.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$90,000,000.00

Monthly NOI$600,000.00
Monthly Debt Service$568,861.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00