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JLL Brokers $85M LoanCore Capital Loan For LAX Portfolio

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FINANCED
$85,000,000
Robert (Bob) Tonnessen
Michael Gigliotti
+ 1

California

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Other556,161 SF
Financed 08/28/2019
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Property Image
FINANCED

JLL Brokers $85M LoanCore Capital Loan For LAX Portfolio

5901 W Century Blvd, Los Angeles, CA, USA

See Similar Deals
Other556,161 SF
Financed 08/28/2019
Robert (Bob) Tonnessen
Michael Gigliotti
+ 1
Contact now

Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$152
Total Square Footage:556,161 SF
Transaction Type:Loan

The property involved in this closed transaction is located at 5901 West Century Blvd, 5933 West Century Blvd, 5959 West Century Blvd, 6151 West Century Blvd, 5940 West 98th Street, 5960 West 98th Street, 6144 West 98th Street, and 9801 Airport Blvd in the LAX market. The asset type is identified as Other. The property has a total square footage of 556,161.

Summary of transation details

  • Property Type: Other
  • Transaction Amount: $85,000,000
  • Loan Amount: $85,000,000
  • Landlord: Cofinance Group, KOAR International LLC

The lenders for this transaction are LoanCore Capital represented by Brendan McNally, and the brokers involved are Bob Tonnessen, Rob Hinckley, Michael Gigliotti, and Steven Paskover from JLL. The loan amount for this transaction is $85,000,000. The property is owned by Cofinance Group and KOAR International LLC.

Note: This transaction involves Leased Fee Portfolio Financing.

Players

Robert (Bob) Tonnessen
23 deals$2.5B volume(212) 632-1835
BROKER

Michael Gigliotti
JLL
19 deals$3.7B volume
BROKER

Rob Hinckley
JLL
81 deals$11.6B volume
BROKER

Steven Paskover
6 deals$501.7M volume
BROKER

LoanCore Capital
LENDER

Details

FINANCED
IMAGE: Bob Tonnessen, Rob Hinckley, Michael Gigliotti, Mark Winter-Gitelson, Steven Paskover & Brendan McNally DATE: 08/28/2019 ADDRESS: 5901 West Century Blvd, 5933 West Century Blvd, 5959 West Century Blvd, 6151 West Century Blvd, 5940 West 98th Street, 5960 West 98th Street, 6144 West 98th Street, 9801 Airport Blvd MARKET: LAX ASSET TYPE: Other LENDER: LoanCore Capital - Brendan McNally LANDLORD: Cofinance Group (@OldManWinterr), KOAR International LLC BROKERS: Bob Tonnessen, Rob Hinckley, Michael Gigliotti, Steven Paskover - JLL LOAN AMOUNT: $85,000,000 SF: 556,161 NOTES: Leased Fee Portfolio Financing.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$85,000,000.00

Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00