Updated Oct 29, 2024
Morgan Stanley And Goldman Sachs Lend $550M For Financial District Office Building
515 Flower St, Los Angeles, CA 90071, USA
$550,000,000
$220/SF
Building Size
2,500,000 SF
Asset Type
Office
Closing
May 6, 2020
About this deal
AI
The property involved in this closed transaction is an office located at 515 S. Flower St. in the Financial District. The property spans a total of 2,500,000 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $550,000,000
- Lender: Morgan Stanley– James Gorman & Goldman Sachs – David Solomon
- Landlord: CalPERS & CWP Capital
- Loan Terms: 10-year, interest-only, non-recourse, 2.44% fixed-rate
The key individuals involved in this deal include James Gorman from Morgan Stanley, David Solomon from Goldman Sachs, and representatives from CalPERS and CWP Capital.
On the Map
$550,000,000
$220/SF
Office
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Players
Pasadena Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93