Vella Group And London & Regional Properties Secure $26M Loan For El Segundo R&D/Office Complex
FINANCED
$26,000,000
California
See Similar DealsOffice2,000,000 SF
Financed 06/18/2020
FINANCED
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
See Similar DealsOffice2,000,000 SF
Financed 06/18/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$13
Total Square Footage:2,000,000 SF
Transaction Type:Loan
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
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,000,000.00
Monthly NOI$173,333.33
Monthly Debt Service$164,337.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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