Vella Group And London & Regional Properties Secure $26M Loan For El Segundo R&D/Office Complex
650 Pacific Coast Hwy, Hermosa Beach, CA 90254, USA
$26,000,000
$13/SF
Building Size
2,000,000 SF
Asset Type
Office
Closing
Jun 17, 2020
AI
An R&D/Office Complex located at 650-700 Pacific Coast Hwy in El Segundo has been involved in a recent loan transaction. The property, spanning 200,000 square feet, was subject to a 24-Month Bridge Loan worth $26,000,000. The loan was secured by the Vella Group, London & Regional Properties, who serve as the property's landlords. The lender in this transaction was Thorofare Capital, represented by Felix Gutnikov. Broadway Capital, represented by Michael Malik, also played a role in the deal.
Summary of transation details:
- Property Type: R&D/Office Complex
- Loan Amount: $26,000,000
- Square Footage: 200,000
Felix Gutnikov from Thorofare Capital and Michael Malik from Broadway Capital acted as the brokers in this transaction, representing the lender and playing a key role in the deal.
Players
Hermosa Beach 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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93