Bank OZK And Acore Capital Provide $117M Loan For Glencoe Avenue Office In Los Angeles
4204 Glencoe Avenue, Marina del Rey, California 90292, United States
$117,000,000
$774,834/SF
Building Size
151 SF
Asset Type
Office
Closing
Nov 16, 2022
AI
The property asset involved in this closed transaction is an office located at 4204-4230 Glencoe Avenue in Los Angeles, CA. The office space spans a total of 151,000 square feet. The transaction took place on 11/16/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $117,000,000
- Address: 4204-4230 Glencoe Avenue, Los Angeles, CA
- Market: Los Angeles, CA
The loan for this transaction was provided by Bank OZK and Acore Capital, with a total loan amount of $117,000,000. The loan type involved in this transaction is a Senior & Mezzanine Loan. The landlord of the property is The Bradmore Group. Greg Grant from CBRE represented the buyer as the broker in this deal.
Players
Marina Del Rey 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93