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LOS ANGELES — Newmark Grubb Knight Frank has arranged a $27 million loan for a 151,013-square-foot office building in downtown Los Angeles. The Class A building is located at 626 Wilshire Blvd.
The property features ground-floor retail atop two below-grade parking levels. It was originally built in 1966 as the headquarters for State Mutual Savings & Loan, one of Southern California’s leading financial institutions at the time.
The borrowers, Barker Pacific Group and Golden Boy Enterprises, will use these funds to retire existing debt. The financing will also be used for property upgrades.
Jordan Roeschlaub, Daniel Fromm and Scott Selke of NGKF Capital Markets team arranged and restructured the loan.