Brookfield Refinances Ernst & Young Plaza With $265 Million Loan From Wells Fargo

Ernst & Young Plaza, an office tower located at 725 South Figueroa Street in Los Angeles, has been involved in a recent loan transaction. The loan, valued at $265 million, was obtained for a period of two-and-a-half years with a floating rate of Libor plus 2%. The lender in this transaction was Wells Fargo, represented by Timothy J. Sloan. The loan replaces a previous fixed-rate loan of $177 million from Wells Fargo. The property covers a total area of 910,610 square feet.

Summary of transaction details

• Property Type: Office Tower
• Transaction Amount: $265 million
• Landlord: Brookfield - Brian Kingston & Ric Clark
• Lender: Wells Fargo - Timothy J. Sloan
• Loan Term: Two-and-a-half years
• Loan Interest: Floating rate of Libor plus 2%

Brookfield, represented by Brian Kingston and Ric Clark, acted as the landlord in this transaction. As a result of the refinancing, Brookfield realized net proceeds of $42 million. This deal offers insight into the key individuals and companies involved, shedding light on the people behind the loan and showcasing the importance of Ernst & Young Plaza in the commercial real estate market.