Thorofare Capital Provides $22 Million Loan To Jaime Lee's Jamison Properties For Office-to-Multifamily Conversion
4201 Wilshire Boulevard
$22,000,000
$84/SF
Building Size
259,484 SF
Asset Type
Office
Closing
Feb 23, 2026
AI
The Harbor Building, located at 4201 Wilshire Boulevard in Los Angeles, is classified as an office asset with a total square footage of 259,484. A refinance loan amounting to $22,000,000 was secured to support its conversion into multifamily residential units, addressing the city's office vacancy issues.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $22,000,000
- Loan Type: Refinance
- Loan Terms: floating-rate
- Lender: Thorofare Capital
- Landlord: Jaime Lee - Jamison Properties
Thorofare Capital provided the refinancing to Jamison Properties for the planned conversion of the building into 265 residential units, in line with the citywide ordinance aimed at enhancing residential supply through the adaptation of aging office buildings.
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
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93