BLT Enterprises Secures $13.99M Refinance Loan For El Segundo Office Building
621 Hawaii St El Segundo, CA 90245, USA
$13,990,000
$285/SF
Building Size
49,000 SF
Asset Type
Office
Closing
May 16, 2023
AI
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.
Los Angeles 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93