Blackstone Real Estate Debt Strategies Provides $42.5M Loan For Office Property On Wilshire Boulevard In Brentwood
11645 Wilshire Boulevard, Los Angeles, CA, USA
$42,500,000
$5,320/SF
Building Size
7,988 SF
Asset Type
Office
Closing
Mar 18, 2021
AI
An office asset located at 11645 Wilshire Boulevard in the Brentwood market has recently undergone a loan transaction. The loan was obtained from Blackstone Real Estate Debt Strategies for a total amount of $42,500,000. The loan terms are set at a fixed rate for a period of 7 years.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $42,500,000
- Address: 11645 Wilshire Boulevard
- Market: Brentwood
The landlord of the property, known as Wilshire West Medical Tower, successfully secured the loan from Blackstone Real Estate Debt Strategies. The deal was facilitated by brokers Marc Schillinger & Keith Rosso, who represented the landlord throughout the transaction.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93