| Transaction Description: |
| $7,000,000 75% LTV, Fixed Rate, Permanent Financing for a Single Tenant Creative Office Building in Hollywood, CA. GSP arranged permanent financing for a spectacular newly redeveloped “build to suit” digital production studio. The two story freestanding building contains a total of 15,040 net rentable sq. ft. on a 26,298 sq. ft. lot. Originally built in 1925 to serve as an animation studio for an owner/user, the building was retrofitted in 1987 and completely renovated in 2007, including a state of the art digital recording studio. The property is strategically located near the epicenter of Hollywood’s Studio and Production core area between Cahuenga Boulevard, Highland Avenue, Melrose and Santa Monica Blvd. At the time of acquisition, the borrower signed a 10-year, NNN lease with a well capitalized start-up digital entertainment company. The proceeds from the permanent loan were utilized to pay off a construction/bridge loan. |
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| Rate: 6.55%, LIBOR Swap Fixed Rate |
| Term: 5 yrs |
| Amort: 30 yrs |
| LTV: 75% |
| Prepayment: The interest rate SWAP that fixes the rate may have a termination value, positive or negative, at the time of termination/prepayment. |
| Recourse |
| Lender Fee: Par |
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Key Players: Andrew Levant,
Gilda Rivera
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