Blackstone Real Estate Debt Strategies Provides $42.5M Loan For Office Property On Wilshire Boulevard In Brentwood
FINANCED
$42,500,000
California
See Similar DealsOffice7,988 SF
Financed 03/19/2021
FINANCED
Blackstone Real Estate Debt Strategies Provides $42.5M Loan For Office Property On Wilshire Boulevard In Brentwood
11645 Wilshire Boulevard, Los Angeles, CA, USA
See Similar DealsOffice7,988 SF
Financed 03/19/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$5,320
Total Square Footage:7,988 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,500,000.00
Monthly NOI$283,333.33
Monthly Debt Service$268,628.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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