Onni Group Receives $550M Loan To Help Fund Acquisition Of 1M SF Miracle Mile Office Campus
Onni Group is one step closer to completing the acquisition of a 1M SF office campus in the Miracle Mile neighborhood of Los Angeles.
The Vancouver-based real estate developer has secured a $550M floating-rate loan from French multinational financial services firm Natixis to purchase the Wilshire Courtyard at 5700 and 5750 Wilshire Blvd.
Tishman Speyer is reportedly selling the massive office campus for $630M, according to a report by the Los Angeles Business Journal.
Tishman had purchased the property in 2012 for $422.5M, according to CRE data site Reonomy.
Built in 1987, the Wilshire Courtyard sits on an 8.4-acre site and consists of two six-story Class-A office buildings. The buildings were renovated and feature several amenities, including private balconies, a fitness center and a jogging trail.
The Hollywood Reporter, Fox Animation Studios and The Virtual Reality Co. are among several tenants to call the Wilshire Courtyard home.
The office campus is in the heart of the Miracle Mile neighborhood. The buildings sit across the street from the Screen Actors Guild offices and a block away from the popular La Brea Tar Pits and the Los Angeles County Museum of Arts.
