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650 Pacific Coast Hwy, Herm...

Vella Group And London & Regional Properties Secure $26M Loan For El Segundo R&D/Office Complex
FINANCEDOffice

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

Felix Gutnikov

Thorofare Capital

Broker

$26M

vol

1 deal

Broker
Thorofare Capital
Thorofare CapitalLender
Vella Group
Vella GroupLandlord

Hermosa Beach Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

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