As of December 3, 2021, this loan is no longer held in FS Credit REIT’s portfolio. The borrower successfully executed on its business plan, allowing it to pay off the loan early and refinance the property with long-term debt.
Property highlights
- The newly constructed industrial complex contains 61,380 square feet of office and R&D space and is uniquely located in the city of Hawthorne in southwest Los Angeles County.
- Thanks to its relative affordability and convenient location, Hawthorne is attracting tenants in innovative sectors including technology, aerospace, defense, and electric vehicles and aircraft.
- The property is near three major freeways (I-105, I-110 and I-405), four miles east of Los Angeles International Airport and 14 miles south of Downtown Los Angeles, providing access to the Greater Los Angeles area.
Location
Investment details1
Total loan size
$45,000,000
Purpose
Acquisition financing
LTV
80.0%
Year built
2021
Square feet
61,380
Description
Acquisition financing of a newly constructed complex located near LAX and Downtown Los Angeles containing offices and research & development space