Onni Group Acquires Office Property On Wilshire Blvd From TishmanSpeyer For $630M
Wilshire Boulevard, Miracle Mile, Los Angeles, CA, USA
$630,000,000
$630/SF
Building Size
1,000,000 SF
Asset Type
Office
Closing
Jan 1, 2018
AI
The sale of an office property at 5700-5750 Wilshire Blvd in Miracle Mile has been completed. The property, known as Wilshire Courtyard, spans 1,000,000 square feet and was sold for a price of $630,000,000. This translates to a price per square foot of $630.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $630,000,000
- Square Footage: 1,000,000
- Address: 5700-5750 Wilshire Blvd
- Market: Miracle Mile
The buyer of the property is the Onni Group, while the seller is TishmanSpeyer. Notably, TishmanSpeyer had previously purchased Wilshire Courtyard in 2012 for $423 million.
Players
Los Angeles Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93