Updated Oct 13, 2026
Beach Point Capital Management Leases Office At 1620 26th St, Santa Monica
1620 26th St, Santa Monica, CA, 90404
Building Size
25,000 SF
Asset Type
Office
Closing
Jul 6, 2016
About this deal
AI
The Water Garden at 1620 26th St in Santa Monica, CA, 90404, is a six-story, Class-A office building where Beach Point Capital Management has renewed its lease and is expanding to occupy the entire top floor. The firm's lease agreement with landlord JP Morgan includes monument signage rights.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not provided
- Square Feet: 25,000
- Tenant: Beach Point Capital Management
- Tenant's Rep: Mark Sullivan
- Landlord: JP Morgan
- Tenant's Rep Agency: Savills Studley
- Landlord's Rep: CBRE
Savills Studley corporate managing director Andy Lustgarten and EVP, director, and regional manager Mark Sullivan represented Beach Point Capital Management in the lease renewal and expansion deal. On the landlord's side, CBRE first VP Amanda Calof served as the representative for Water Garden owner JP Morgan in the transaction.
On the Map
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93