Updated Oct 28, 2024
Berkshire Residential Investments And Limekiln Real Estate Acquire Multifamily Properties In Downtown Los Angeles With $328.8M Loan
548 North Spring Street, Los Angeles, California 90012, United States
$328,800,000
Units
1,037
Asset Type
MultiFamily
Closing
Apr 12, 2022
About this deal
AI
A multifamily property located at 548, 600 & 650 South Spring Street, 111 West 7th Street & 215 West 6th Street in downtown Los Angeles has recently been involved in a loan transaction.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $328,800,000
- Units: 1,037
The loan was provided by MF1 Capital for the acquisition of the property. The lender, Berkshire Residential Investments and Limekiln Real Estate, facilitated the transaction. The landlord, Laguna Point Properties, represented by Greg Campbell and Garrett LaBar, played a crucial role in the deal. The brokerage services were conducted by JLL.
On the Map
$328,800,000
MultiFamily
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Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93