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Morgan Stanley And Goldman Sachs Lend $550M For Financial District Office Building

Property Image
FINANCED
$550,000,000

California

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Office2,500,000 SF
Financed 05/07/2020
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Property Image
FINANCED

Morgan Stanley And Goldman Sachs Lend $550M For Financial District Office Building

515 Flower St, Los Angeles, CA 90071, USA

See Similar Deals
Office2,500,000 SF
Financed 05/07/2020
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$220
Total Square Footage:2,500,000 SF
Transaction Type:Loan

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.

Players

Morgan Stanley
Morgan Stanley
LENDER
Goldman Sachs
Goldman Sachs
LENDER
C
CalPERS
LANDLORD

Details

FINANCED
IMAGE: James Gorman & David Solomon DATE: 05/07/2020 ADDRESS: 515 S. Flower St. MARKET: Financial District ASSET TYPE: Office LENDER: Morgan Stanley – James Gorman & Goldman Sachs – David Solomon LANDLORD: CalPERS & CWP Capital LOAN AMOUNT: $550,000,000 LOAN TERMS: 10-year, interest-only, non-recourse, 2.44% fixed-rate SF: 2,500,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$550,000,000.00

Monthly NOI$3,666,666.67
Monthly Debt Service$3,476,374.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00