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Thorofare Capital Provides $22 Million Loan To Jaime Lee's Jamison Properties For Office-to-Multifamily Conversion

Property Image
FINANCED
$22,000,000

California

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Office259,484 SF
Financed 02/23/2026
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Property Image
FINANCED

Thorofare Capital Provides $22 Million Loan To Jaime Lee's Jamison Properties For Office-to-Multifamily Conversion

4201 Wilshire Boulevard

See Similar Deals
Office259,484 SF
Financed 02/23/2026
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$84
Total Square Footage:259,484 SF
Transaction Type:Loan

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

Thorofare Capital
Thorofare Capital
LENDER
JP
Jamison Properties
LANDLORD

Details

FINANCED
IMAGE: Jaime Lee DATE: 02/23/2026 ADDRESS: 4201 Wilshire Boulevard MARKET: Los Angeles ASSET TYPE: Office ~ SF: 259,484 LENDER: Thorofare Capital LANDLORD: Jaime Lee - Jamison Properties LOAN AMOUNT: $22,000,000 LOAN TYPE: Refinance LOAN TERMS: floating-rate NOTE: Thorofare Capital provided a $22 million floating-rate senior mortgage loan to Jamison Properties to refinance and reposition The Harbor Building in Los Angeles for a planned 265-unit office-to-multifamily conversion.The financing supports adaptive reuse redevelopment under the citywide ordinance expansion aimed at addressing high office vacancy in Los Angeles and accelerating residential supply through conversion of aging office assets.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$22,000,000.00

Monthly NOI$146,666.67
Monthly Debt Service$139,054.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00