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

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:

• Property Type: Office
• Transaction Amount: $35,800,000
• Buyer: Tom Bacon & Jesse Madigan - Civicap Partners
• Seller: Jim Jacobsen - Redcar Properties
• Lender: Bank OZK

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.