FINANCED
Deutsche Bank Provides $16M Loan For Retail Property In LA's Arts District
833 East 3rd Street
Retail
27,000 SF
27,000 SF
Financed 1 year ago
Summary
Loan
CALIFORNIA
Retail
27,000 sqft
The retail property located at 833 E. 3rd St in the Arts District of LA has been involved in a recent transaction. The property, spanning 27,000 square feet, was subject to a loan deal. Deutsche Bank provided a loan amount of $16,000,000 to the property owner, Parallel Acquisitions. The loan terms span a period of 10 years.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,000,000
- Date: 09/28/2018
- Address: 833 E. 3rd St
- Market: Arts District
- City: LA
- Square Footage: 27,000
In addition to the loan transaction, it is worth noting that Parallel Acquisitions has invested $5 million in renovations for the bow-truss warehouse. The building, which was constructed in 1930, is currently fully leased. Among the tenants are Hong Kong-based art gallery Over the Influence, fashion boutique H. Lorenzo, luxury retailer Shinola, ice cream shop Salt and Straw, Japanese cuisine spot Inko Nito, and a restaurant by Instagram star "Salt Bae," the alter ego of Turkish restaurateur Nusret Gökçe. (LABJ)
Players
All
1
Lenders
1
Details
FINANCED
IMAGE: Christian Sewing and Pouya Abdi
DATE: 09/28/2018
ADDRESS: 833 E. 3rd St
MARKET: Arts District
CITY: LA
ASSET TYPE: Retail
LENDER: Deutsche Bank
LANDLORD: Parallel Acquisitions
LOAN AMOUNT: $16,000,000
LOAN TERMS: 10 year
SF: 27,000
NOTE: Parallel has $5 million in renovations to the bow-truss warehouse, built in 1930. The one-story building is fully leased. Tenants include Hong Kong-based art gallery Over the Influence, fashion boutique H. Lorenzo, luxury retailer Shinola, ice cream shop Salt and Straw, Japanese cuisine spot Inko Nito and a restaurant by Instagram star “Salt Bae,” the alter ego of Turkish restaurateur Nusret Gökçe. (LABJ)View on map
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Address833 East 3rd Street
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