Updated Oct 29, 2024
The County Of Los Angeles Lends $302.3M For Administrative Building In LA's Koreatown
510 South Vermont Avenue, Koreatown, Los Angeles, CA, USA
$302,300,000
$645/SF
Building Size
468,000 SF
Asset Type
Other
Closing
Jul 25, 2018
About this deal
AI
The administrative building located at 510 S. Vermont Ave in Koreatown, Los Angeles has been involved in a closed property transaction. The 13-story building, which includes an eight-story parking structure and an adjacent 10-story parking structure, will be used by the Los Angeles County Department of Mental Health and other county departments. The building spans a total of 468,000 square feet.
Summary of transaction details
- Property Type: Administrative Building
- Transaction Amount: $302,300,000
- Loan Term: 33 years
- Loan Amount: $302,300,000
- Square Footage: 468,000
- Market: Koreatown
- City: Los Angeles
- Lender: The County of Los Angeles
- Landlord: Public Facilities Group
The County of Los Angeles provided the loan for this transaction. The Public Facilities Group serves as the landlord for the administrative building. This transaction represents a significant investment in the Los Angeles County infrastructure and will support the operations of the Department of Mental Health as well as other county departments.
On the Map
$302,300,000
$645/SF
Other
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93