The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 19, 2022
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
GI Partners Secures $389 Mil Refi on Downtown L.A. Data Center/Office Tower


GI Partners recently obtained a $389.25 mil refi loan on One Wilshire, a 661.6k sf, multi-tenant, critical technology asset comprising a tier 3+-equivalent data center and office space in downtown Los Angeles. The international telecommunications industry considers the building the most important point of connectivity between the United States and the Pacific Rim.

Located at 624 S. Grand Ave, One Wilshire boasts five separate utility power risers and 13 on-site generators with fuel storage for 24 hours of operation and priority refueling status, along with separate and redundant data risers, exceptional antenna line of sight to much of the Los Angeles basin, a multi-tower antenna array and fiber connectivity to the rooftop.

Standing at 30 stories tall with a façade of white marble and glass, One Wilshire is one of the largest internet exchanges in the world and the most interconnected terrestrial facility in the Western United States. It is 89% leased to major interexchange and local exchange carriers, financial services companies, data communication companies and Internet service providers.

A JLL Capital Markets team led by Kevin MacKenzie, Brian Torp, Jake Wagner and Samuel Godfrey with JLL’s Capital Markets group, along with brokerage support from Darren Eades, arranged the 10-year, fixed-rate, non-recourse, full-term, interest-only loan with Goldman Sachs. Loan proceeds will be used to pay-off the current loan early and repatriate a portion of the equity.

Demand for data center space has skyrocketed over the last two years. In 2020, increased data usage, including streaming services and virtual connectivity, caused record demand for data centers, which has continued through 2021. According to JLL Research’s most recent Data Center Outlook, the Los Angeles Data Center market absorbed 7.0 MW during the first half of 2021, a 250 percent increase over the 2.0 MW absorption levels in 2020. JLL anticipates the demand for faster, safer and more reliable content delivery will continue to propel the Los Angeles Data Center market.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2022 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media