LA Care Health Plan Acquires Note From Shinhan Bank For $125 Million In Los Angeles

The property at 1200 West 7th Street in Los Angeles involves a Note/Loan transaction. The sale price was $125,000,000, reflecting a price per square foot of $171 for a total area of 730,000 square feet. The asset includes an office component of approximately 370,000 square feet, a co-location data center of about 349,000 square feet, as well as a parking component with 1,500 spaces and a Waymo charging facility. This sale achieved the highest price per square foot for a standard non-seller financed transaction in downtown Los Angeles since before the COVID pandemic.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $125,000,000
• Address: 1200 West 7th Street
• Market: Los Angeles
• Square Footage: 730,000
• Price Per Square Foot: $171
• Buyer: LA Care Health Plan
• Seller: Shinhan Bank
• Brokers: David Tobin & Alex Draganiuk - Mission Capital Advisors; Eric Michael Anton, Nelson Lee & Mark DeGiorgio - Institutional Property Advisors - Marcus & Millichap

The transaction involved several key individuals from different brokerage firms. David Tobin and Alex Draganiuk represented Mission Capital Advisors in the deal, while Eric Michael Anton, Nelson Lee, and Mark DeGiorgio were associated with Institutional Property Advisors at Marcus & Millichap and played crucial roles in facilitating the transaction.