GreenOak Real Estate, Rising Realty Acquire Downtown LA Office For $141M
601 West 5th Street, Los Angeles, CA 90071, USA
$141,000,000
$494/SF
Building Size
285,000 SF
Asset Type
Office
Closing
Aug 30, 2018
AI
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
Los Angeles Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93