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12/05/16
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In a downtown Los Angeles financing deal from a month or so ago, Sharp Capital obtained a $14.5 mil refi loan on 1200 Wilshire Blvd, a 96k sf office building situated a couple of blcoks west of the 110 Fwy at the edge of downtown.
1200 Wilshire Boulevard is situated on 0.78 acres at the intersection of Wilshire and Lucas Street, three blocks from the Harbor Freeway. The six-story building was renovated in 2006 and is 89 percent leased to a variety of tenants in the banking, healthcare, legal, counseling and marketing sectors.
Jeff Sause and Ryan Ash with HFF placed the 10-year, interest-only, 4.02%, fixed-rate loan with a national bank. This loan replaces previous acquisition financing with a regional bank that HFF helped secure in late 2014 for the borrower. Sharp Capital plans to hold the asset in their core portfolio.
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