Dealmaker: Quantum Capital Partners Arranges $32M for Los Angeles Office Building

Quantum Capital Partners, Beverly Hills, Calif., arranged a $32.85 million commercial mortgage-backed securities loan secured by a west Los Angeles office building.

The six-story building at 12301 Wilshire Boulevard includes 107,000 rentable square feet.

Proceeds from the 10-year interest-only loan retired existing debt and returned equity to the ownership, a local partnership composed of tenant-in-common investors. The ownership group acquired the building in 2014.

Built in 1974 and renovated in 2010, 12301 Wilshire is 96 percent leased to office and medical office tenants. The building is in Los Angeles’ Brentwood neighborhood.

Quantum Managing Directors Jonathan Hakakha and Mike Yim led the team representing the borrower. Hakakha said lenders reacted to the asset’s strong sponsorship and location and delivered terms and conditions superior to a traditional CMBS loan. The non-recourse loan originated by Wells Fargo Bank priced at 171 basis points over the 10-year swaps excluding the rate-lock premium. It closed within 45 days of application.

“We executed an all-in rate lock at application that eliminated any interest rate risk,” Hakakha said.