DTLA Office

Transaction description

David Semmer arranged the $6.1 million refinance of a historic, 14-story office building in Los Angeles, CA. Originally constructed in 1926, the asset has been adaptively transitioned into a telecommunications and data center hub with ground-floor retail. PSRS utilized a correspondent life insurance lender to replace a maturing bank loan, structuring a 10-year term with 24 months of interest-only and a 30-year amortization. The execution was driven by a strong 10-year occupancy history that successfully proved the property’s resilience through the pandemic.