facebook
Traded Co logo
Submit

GreenOak Real Estate, Rising Realty Acquire Downtown LA Office For $141M

Property Image
SOLD
$141,000,000

California

See Similar Deals
Office285,000 SF
Sold 08/31/2018
the dealdetailscomps
Property Image
SOLD

GreenOak Real Estate, Rising Realty Acquire Downtown LA Office For $141M

601 West 5th Street, Los Angeles, CA 90071, USA

See Similar Deals
Office285,000 SF
Sold 08/31/2018
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$494
Total Square Footage:285,000 SF
Transaction Type:Sale

GreenOak Real Estate and Rising Realty have purchased the CalEdison DTLA office building in Downtown LA for $141,000,000. The property, located at 601 West 5th Street, offers 285,000 square feet of office space. The sale price equates to approximately $495 per square foot. Lionstone Investments sold the property to the buyers.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $141,000,000
  • Square footage: 285,000
  • Address: 601 West 5th Street
  • Market: Downtown LA

CalEdison DTLA was originally constructed in 1931 and served as the headquarters for the Southern California Edison Company. The transaction was completed on August 31, 2018.

Players

GE
GreenOak Real Estate
BUYER
LI
Lionstone Investments
SELLER

Details

SOLD
IMAGE: John Carrafiell, Andrew Bruce and Matthew Ahrens DATE: 08/31/2018 ADRESS: 601 West 5th Street MARKET: Downtown CITY: LA ASSET TYPE: Office PRICE: $141,000,000 SF: 285,000 PPSF: $495 BUYER: GreenOak Real Estate, Rising Realty SELLER: Lionstone Investments NOTE: CalEdison DTLA, built in 1931, was originally home to the Southern California Edison Company.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,519,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$500,943.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$668,411.93
Annual Debt Service$8,020,943.22