Description

Totaling 968,745 rentable square feet and currently 61% leased to 26 tenants, EY Plaza is one of downtown Los Angeles’ iconic Class A office towers.

The Property is an extremely efficient rectangular-shaped building with significant residual value in the existing improvements, allowing an investor to manage the building’s cost basis. Approximately 148,000 square feet of the space available to lease today (15% of the building) requires less than $40 per square foot in tenant improvements, allowing investors to better control capital expenditures when leasing up the building, which is ideal in today’s office leasing environment.

EY Plaza was the first building constructed in a full city block development at 7th and Figueroa, which began in the early 1980s and only recently finished in 2023 with the development of The Beaudry, a brand new 785-unit luxury multifamily building. This project is unique in DTLA as it creates a full live-work-play experience having the heavily trafficked 330,000-square-foot FIGat7th retail center at the base, two office buildings on either side, including EY Plaza, and the new luxury apartment building in the middle.

This sale offers investors the opportunity to acquire this non-performing loan at a massive discount to note balance, historic trades in DTLA going back decades, and estimated replacement cost of over $750 per square foot.

Deal Team