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West Coast, Los Angeles, Ca...

Updated Oct 28, 2024

Bilt advertisement
Global Atlantic Financial Group Provides $1.7B Loan For Drawbridge Realty's 5.4M SF Office Property
FINANCEDOffice

Global Atlantic Financial Group Provides $1.7B Loan For Drawbridge Realty's 5.4M SF Office Property

West Coast, Los Angeles, California 90004, United States

$1,700,000,000

$314/SF

Building Size

5,400,000 SF

Asset Type

Office

Closing

Feb 17, 2022

About this deal

AI

The property involved in this transaction is an office building located on the West Coast and Sun Belt. The property has a total square footage of 5,400,000. The transaction took place on 02/18/2022.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $1,700,000,000

The lender in this transaction was Global Atlantic Financial Group, represented by Allan Levine. The landlord was Drawbridge Realty, represented by Mark Whiting.

The office loan at West Coast, Los Angeles, California 90004, United States in Los Angeles, California financed for $1.7B in 2022. The building is 5,400,000 square feet, implying about 314 per square foot on the published price. Named participants on the West Coast, Los Angeles, California 90004, United States loan are Mark S. Whiting. This page is the Los Angeles, California file for the West Coast, Los Angeles, California 90004, United States office financed: pricing, party profiles, and other closed office comps from the same Los Angeles sit in the Market section below. Filter that Los Angeles office set by closing date to see what else financed near West Coast, Los Angeles, California 90004, United States around 2022. Published consideration for West Coast, Los Angeles, California 90004, United States is $1.7B, dated 2022. Cite this Global Atlantic Financial Group Provides $1.7B Loan For Drawbridge Realty's 5.4M SF Office Property loan when underwriting similar office product around Los Angeles, California.

Players

Global Atlantic Financial Group
Global Atlantic Financial GroupLender

Mark S. Whiting

Drawbridge Realty

Landlord

$1.9B

vol

3 deals

Landlord

Los Angeles Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Deal FAQ

About $314 per square foot on a published $1.7B for 5,400,000 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.01%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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