SBAF Mortgage Fund, Citi Real Estate Funding & Morgan Stanley Provide $465M Loan For Office Building In Downtown Los Angeles
FINANCED
$465,000,000
California
See Similar DealsOffice1,300,000 SF
Financed 01/27/2021
FINANCED
SBAF Mortgage Fund, Citi Real Estate Funding & Morgan Stanley Provide $465M Loan For Office Building In Downtown Los Angeles
555 W 5th St, Los Angeles, CA 90013, USA
See Similar DealsOffice1,300,000 SF
Financed 01/27/2021
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$357
Total Square Footage:1,300,000 SF
Transaction Type:Loan
The loan for the property located at 555 West 5th Street in Downtown Los Angeles has been secured by SBAF Mortgage Fund, Citi Real Estate Funding, and Morgan Stanley. The loan amount is $465 million, with a term of 2 years.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $465M
- Address: 555 West 5th Street
- Market: Downtown Los Angeles
- Asset Type: Office
- Square Footage: 1.3M SF
- Landlord: Brookfield Property Partners - Brian Kingston
- Tenants: @WeWork, @Deloitte
Ric Clark and Brian Kingston are the individuals involved in this transaction. Ric Clark has represented the lender, SBAF Mortgage Fund, while Brian Kingston represents Brookfield Property Partners as the landlord.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$465,000,000.00
Monthly NOI$3,100,000.00
Monthly Debt Service$2,939,116.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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