 |  |  |
|---|
OPC, in partnership with Rising Realty Partners and a U.S. private equity fund, closed on the acquisition of the non-performing $10.7 MM senior mortgage secured by an office property in Agoura Hills, CA. The JV purchased the non-performing loan at a 25% discount on the outstanding principal balance of the loan. Currently the JV is executing a $2.0 MM renovation plan, including painting the exterior of the building, re-landscaping, and upgrading the lobby, elevators and the common areas.
-
Asset Type:
-
Location:
-
Size / Occ:
-
Built / Reno:
-
In-place NOI:
-
Local Tenant / Drivers:
Office
Agoura Hills (Los Angeles), CA
61,852 sf / 75%
1984 / 2008 / 2017
$520K (est. Year 5 NOI; $1.1 MM)
Wealthy demographics with a population
of 51K and an HH income of $144K
-
UPB:
-
Status:
-
Maturity Date:
$10.7 MM ($173 psf)
Non-Performing / REO
Defaulted / Foreclosure in
45 days
