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
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.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Loan transactions
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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