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Blackstone Provides $197 Million Acquisition Loan For Playa Vista Office Asset Managed By Strategic Value Partners

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FINANCED
$197,000,000

California

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Office500,000 SF
Financed 11/08/2024
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Property Image
FINANCED

Blackstone Provides $197 Million Acquisition Loan For Playa Vista Office Asset Managed By Strategic Value Partners

12181 West Bluff Creek Drive

See Similar Deals
Office500,000 SF
Financed 11/08/2024
Contact now

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$394
Total Square Footage:500,000 SF
Transaction Type:Loan

The property asset involved in the transaction is an office building located at 12181 West Bluff Creek Drive in Playa Vista. The asset comprises 500,000 square feet and the loan amount associated with the acquisition is $197,000,000.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $197,000,000
  • Market: Playa Vista
  • Lender: Blackstone
  • Lender Representatives: Stephen Schwarzman, Jon Gray
  • Landlord: Strategic Value Partners
  • Landlord Representatives: Victor Khosla, Lincoln Property Company, Clay Duvall, David Binswanger
  • Brokers: Jonathan Firestone, Jordan Roeschlaub, Blake Thompson - Newmark

The deal involves key individuals and representatives, including Stephen Schwarzman and Jon Gray representing Blackstone as the lender. Victor Khosla represents Strategic Value Partners, while Clay Duvall and David Binswanger represent Lincoln Property Company in this transaction. Brokers Jonathan Firestone, Jordan Roeschlaub, and Blake Thompson are affiliated with Newmark for this deal.

Players

Jordan (Jordy) Roeschlaub
322 deals$96.3B volume
BROKER

Jonathan Firestone
Newmark
38 deals$10.5B volume(310) 709-4910
BROKER

Blake Thompson
Newmark
19 deals$3.4B volume
BROKER

Blackstone
LENDER

Details

FINANCED
IMAGE: Jonathan Firestone, Jordan Roeschlaub, Blake Thompson, Stephen Schwarzman, Jon Gray, Victor Khosla, Clay Duvall & David Binswanger DATE: 11/08/2024 ADDRESS: 12181 West Bluff Creek Drive MARKET: Playa Vista ASSET TYPE: Office ~ SF: 500,000 LENDER: Blackstone (@Blackstone) - Stephen Schwarzman & Jon Gray LANDLORD: Strategic Value Partners - Victor Khosla; Lincoln Property Company - Clay Duvall & David Binswanger BROKERS: Jonathan Firestone, Jordan Roeschlaub (@JordyRoeschlaub) & Blake Thompson - Newmark (@Newmark) LOAN AMOUNT: $197,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$197,000,000.00

Monthly NOI$1,313,333.33
Monthly Debt Service$1,245,174.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00