The County Of Los Angeles Lends $302.3M For Administrative Building In LA's Koreatown

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.