Colliers has launched the marketing of the senior loan secured by EY Plaza, the 41-story, 968,745-square-foot office tower at 725 S. Figueroa St. in Downtown Los Angeles, on behalf of the lender. The loan is held in a single-asset, single-borrower securitization, and the property is operated under a court-appointed receiver. Offers are due in October.
The offering comes as Downtown Los Angeles office acquisition activity increasingly favors owner-users. Recent purchases by organizations, including Capital Group, Los Angeles County, Los Angeles Department of Water and Power, Southwest Carpenters Pension Trust, and L.A. Care Health Plan, have shifted nearly five million square feet of inventory toward occupant ownership.
“Buyers aren’t pricing Downtown Los Angeles as a submarket anymore. They’re underwriting each tower on its own floorplates, tenancy and owner-user potential,” said Sean Fulp, Vice Chair at Colliers. “That’s why two buildings a few blocks apart can trade at very different values.”
Alongside Fulp, the Colliers investment sales team includes Executive Vice Presidents Todd Tydlaska and Mark Schuessler and Associate Vice Presidents Jordan Garcia and Blake Hammerstein. The leasing team includes Vice Chair Matt Heyn, Executive Vice President Ian Gilbert, and Senior Vice President Kurt Davis.
