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843 North Spring Street

Civicap Partners Acquires Office Building In Los Angeles For $35.8 Million With Bank OZK Loan
SOLDOffice

Civicap Partners Acquires Office Building In Los Angeles For $35.8 Million With Bank OZK Loan

843 North Spring Street

$35,800,000

$291/SF

Building Size

122,700 SF

Asset Type

Office

Closing

Oct 15, 2025

AI

The property asset involved in this transaction is a cross-laminated timber office building located at 843 North Spring Street, Los Angeles, California. The building comprises 122,700 square feet and was sold for a total transaction amount of $35,800,000. The price per square foot for this property is approximately $292.

Summary of transaction details:

This sale represents a part of a larger portfolio acquisition. Tom Bacon and Jesse Madigan from Civicap Partners are the buyers, while Jim Jacobsen from Redcar Properties is the seller of the property. The financing for this transaction was provided by Bank OZK, which extended a loan of $42,300,000 to facilitate the acquisition.

Players

Tom Bacon

Civicap Partners

Buyer

$35.8M

vol

1 deal

Buyer
Civicap Partners
Civicap PartnersBuyer
Jim Jacobsen

Jim Jacobsen

Redcar Ltd

Seller

$94.9M

vol

6 deals

Seller
Redcar Properties
Redcar PropertiesSeller
Bank OZK
Bank OZKLender

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

0.44%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93