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

Both properties, owned by Daryoush Dayan, have been adapted for offices in fast-developing neighborhood

TRD 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
(iStock)

SoCal developers say demand for office, retail space will continue to drop

SoCal developers say demand for office, retail space will continue to drop
Lowe co-CEO’s Mike and Rob Lowe, Related Fund Management’s Justin Metz, 2130 Violet Street

Related affiliate joins with Lowe to build Arts District office complex

Related affiliate joins with Lowe to build Arts District office complex
Aerial of inland empire industrial areas (Credit: CBRE via OBSERVER MEDIA)

The Inland Empire’s booming logistics industry is a double-edge sword

The Inland Empire’s booming logistics industry is a double-edge sword
View of Carmel Partners' 520 Mateo

Huizar arrest fallout: Carmel Partners places exec on leave

Huizar arrest fallout: Carmel Partners places exec on leave
Brookfield Asset Management CEO Bruce Flatt and Woodridge CEO Michael Rosenfeld with 101 S. Marengo Avenue, and a rendering of the building (Credit: Google Maps)

CRE investment sales in LA sank like a stone in May

CRE investment sales in LA sank like a stone in May
Rossano de Cotiis and the Violet Street development site (Credit: Google Maps)

Onni Group back with a new plan for Arts District project

Onni Group back with a new plan for Arts District project
Jeff Bezos and the IAC Commerce Center (Credit: Phillip Faraone/Getty Images and IAC Commerce Center)

Amazon expands LA footprint with big warehouse lease

Amazon expands LA footprint with big warehouse lease
Brookfield Asset Management CEO Bruce Flatt

Brookfield scoops up Carson industrial properties for $64M

Brookfield scoops up Carson industrial properties for $64M
arrow_forward_ios

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

Loading...