Morgan Stanley, Silverpeak refi 2 former industrial spaces in Arts District

Los Angeles /
Mar.March 13, 2019 03:00 PM
2301 East 7th Street and 1700 Santa Fe Avenue

A real estate investor who has an enormous apartment project slated for Downtown, has closed a $62 million refinance deal on two repurposed properties in the Arts District.

Daryoush Dayan landed a $40 million loan on a nearly 258,000-square-foot building on 7th Street, and a $22 million bridge loan for a smaller, 175,000-square-foot building on Santa Fe Avenue.

Morgan Stanley provided the 10-year mortgage for the property at 2301 East 7th Street. The building was once used as a manufacturing complex, then converted into offices in 2006. Dayan, acting behind an LLC, purchased the building for $6.5 million in 2003, property records show.

Silverpeak Argentic provided the financing for the property at 1700 Santa Fe Avenue. Formerly used as a tire warehouse, it’s now leased to an exports company and an art gallery. Dayan acquired it for $31 million in April 2016, records show.

Bellwether Enterprise advised on both loans.

Nearby, Dayan has proposed building twin residential towers at 2222 Figueroa Street. The project, proposed in 2016, would include 1,063 residential units, including 645 condos, 364 market-rate apartments and 54 units reserved for very low-income households.


Related Articles

arrow_forward_ios
Howard Schwimmer and Michael S. Frankel with 3629-3963 Workman Mill Road (top) and 13943-13955 Balboa Boulevard (Google Maps)

Rexford pays $340M for 2 industrial parks

Rexford pays $340M for 2 industrial parks
Continuum CEO Mark Falcone and a rendering of the project (EYRC Architects via Urbanize)

Continuum Partners, Platinum Equities plan Arts District office tower

Continuum Partners, Platinum Equities plan Arts District office tower
Tim Naughton and a rendering of the project (Credit: OFFICEUNTITLED and AvalonBay)

AvalonBay secures $167M loan for Arts District resi project

AvalonBay secures $167M loan for Arts District resi project
Golden Springs Business Center

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high

Logistics firm inks big lease in Santa Fe Springs as industrial demand remains high
Heather Crossner and the site (Credit: Google Maps)

Bridge Development plans distribution center outside Torrance

Bridge Development plans distribution center outside Torrance
Daniel J. Moore and the site (Credit: Rockefeller Group)

Rockefeller Group snags Inland Empire site for logistics centers

Rockefeller Group snags Inland Empire site for logistics centers
Chris DeWitt, and the property (Credit: Google Maps)

Made Goods furniture wholesaler inks giant lease in City of Industry

Made Goods furniture wholesaler inks giant lease in City of Industry
Michael Flood and the warehouse (Credit: Google Maps)

LA Food Banks pays $52M for warehouse, ending long search

LA Food Banks pays $52M for warehouse, ending long search
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...