Global Atlantic Financial Group Provides $1.7B Loan For Drawbridge Realty's 5.4M SF Office Property
FINANCED
$1,700,000,000
California
See Similar DealsOffice5,400,000 SF
Financed 02/18/2022
FINANCED
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
See Similar DealsOffice5,400,000 SF
Financed 02/18/2022
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$314
Total Square Footage:5,400,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,700,000,000.00
Monthly NOI$11,333,333.33
Monthly Debt Service$10,745,156.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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