Kennedy Wilson Secures $70M Loan For Properties On South El Camino Drive With Investment Management
FINANCED
$70,000,000
California
See Similar DealsOffice112,000 SF
Financed 06/28/2018
FINANCED
Kennedy Wilson Secures $70M Loan For Properties On South El Camino Drive With Investment Management
150 El Camino Drive, Beverly Hills, CA 90212, USA
See Similar DealsOffice112,000 SF
Financed 06/28/2018
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$625
Total Square Footage:112,000 SF
Transaction Type:Loan
The properties located at 150 and 151 South El Camino Drive have recently been involved in a closed transaction. The deal took place on 06/28/2018 and involved a loan of $70,000,000. The total square footage of the properties is 112,000.
Summary of transaction details
- Property Type: N/A
- Transaction Amount: $70,000,000
- Lender: Investment Management, CIO Steven J. Goulart
- Term: 10 year fixed rate
- Landlord: Kennedy Wilson, CEO William J. McMorrow
Steven J. Goulart, the Chief Investment Officer of Investment Management, provided the loan for this transaction. The loan has a fixed rate for a duration of 10 years. On the other side of the deal, Kennedy Wilson, led by CEO William J. McMorrow, acted as the landlord for the two properties.
It is worth noting that Kennedy Wilson acquired the properties for a total of $67,000,000 in 2013.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,000,000.00
Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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