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BLT Enterprises Secures $13.99M Refinance Loan For El Segundo Office Building

Property Image
FINANCED
$13,990,000

California

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Office49,000 SF
Financed 05/16/2023
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Property Image
FINANCED

BLT Enterprises Secures $13.99M Refinance Loan For El Segundo Office Building

621 Hawaii St El Segundo, CA 90245, USA

See Similar Deals
Office49,000 SF
Financed 05/16/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$285
Total Square Footage:49,000 SF
Transaction Type:Loan

Bandon Capital Advisors has secured a $13.99 million loan to refinance a 49,000-square-foot office building located at 621 Hawaii Street in El Segundo. This successful transaction highlights the potential for favorable financing in quality office properties outside CBDs, despite the challenges faced by the office real estate sector.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $13,990,000
  • Market: El Segundo
  • Address: 621 Hawaii Street
  • Square Footage: 49,000

The loan was secured on behalf of BLT Enterprises by Bryan Kenny from Bandon Capital Advisors. Bryan Kenny served as the broker representative for this deal.

Players

Bryan Kenny
Bandon Capital Advisors
Bryan Kenny
3 deals$36.5M volume(323) 201-6048
BROKER
Bandon Capital Advisors
Bandon Capital Advisors
LENDER

Details

FINANCED
IMAGE: Bryan Kenny DATE: 05/16/2023 ADDRESS: 621 Hawaii Street MARKET: El Segundo ASSET TYPE: Office ~ SF: 49,000 BROKER: Bryan Kenny - Bandon Capital Advisors LOAN AMOUNT: $13,990,000 LOAN TYPE: Refinance LOAN TERMS: long-term fixed-rate loan with interest-only periods followed by a 30-year amortization NOTE: Bandon Capital Advisors has secured a $13.99 million loan to refinance a 49,000-square-foot office building in El Segundo on behalf of BLT Enterprises. The successful transaction highlights the potential for favorable financing in quality office properties outside CBDs, despite the challenges faced by the office real estate sector.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$13,990,000.00

Monthly NOI$93,266.67
Monthly Debt Service$88,426.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00