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11645 Wilshire Boulevard, L...

Blackstone Real Estate Debt Strategies Provides $42.5M Loan For Office Property On Wilshire Boulevard In Brentwood
FINANCEDOffice

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

Keith Rosso

Berkadia

Broker

$486.8M

vol

8 deals

Broker

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