FINANCED
Douglas Emmett Secures $550M Construction Loan For West LA Multifamily Portfolio
Douglas Emmett Secures $550M Construction Loan For West LA Multifamily Portfolio
MultiFamily
Financed 90 days ago
Summary
Loan
CALIFORNIA
MultiFamily
The Multifamily Portfolio in West Los Angeles was the subject of a $550 million construction loan secured by Douglas Emmett. The loan terms are floating-rate, with a $13.3 million deposit allocated for Barrington Plaza within the portfolio.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $550,000,000
- Address: West Los Angeles
- Market: West Los Angeles
- Landlord: Jordan Kaplan - Douglas Emmett
- Loan Type: Construction Loan
- Loan Terms: floating-rate
The loan, backed by four residential properties, including Barrington Plaza, is tied to the secured overnight financing rate plus 1.48 percent. Furthermore, the $13.3 million deposit for Barrington Plaza is anticipated to be refunded in August 2026 or upon full repayment of the loan.
Details
FINANCED
IMAGE: Jordan Kaplan
DATE: 02/07/2024
ADDRESS: Multifamily Portfolio
MARKET: West Los Angeles
ASSET TYPE: Multifamily
LANDLORD: Jordan Kaplan - Douglas Emmett (@DouglasEmmett)
LOAN AMOUNT: $550,000,000
LOAN TYPE: Construction Loan
LOAN TERMS: floating-rate
NOTE: Douglas Emmett, a real estate investment trust, secured a $550 million loan backed by four residential properties, including Barrington Plaza in West Los Angeles, where mass evictions led to the removal of over 700 affordable units last year. The loan, tied to the secured overnight financing rate plus 1.48 percent, includes a $13.3 million deposit for Barrington Plaza, to be returned in August 2026 or when the loan is paid off.View on map
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AddressDouglas Emmett Secures $550M Construction Loan For West LA Multifamily Portfolio
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