{"id":55144,"date":"2025-07-10T21:39:10","date_gmt":"2025-07-10T21:39:10","guid":{"rendered":"https:\/\/www.europesays.com\/us\/55144\/"},"modified":"2025-07-10T21:39:10","modified_gmt":"2025-07-10T21:39:10","slug":"jamison-lists-dtla-tower-for-sale-following-35m-default","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/55144\/","title":{"rendered":"Jamison Lists DTLA Tower For Sale Following $35M Default"},"content":{"rendered":"

\"Placeholder\"\/<\/p>\n

\n 811 Wilshire Blvd. in Downtown Los Angeles\n <\/p>\n

Jamison Properties<\/a> is seeking to sell a 21-story office tower with at least $35M of debt attached to it.\u00a0<\/p>\n

Jamison just a few months\u00a0ago defaulted on the $35M\u00a0CMBS\u00a0loan tied to the property,\u00a0CoStar reported<\/a>.<\/p>\n

CBRE<\/a> is marketing the property, but a price tag wasn’t disclosed. The sale would also include a neighboring\u00a0parking garage at 616 S. Figueroa St.\u00a0<\/p>\n

Jamison bought the property in 2003 for $26.5M.\u00a0An appraisal\u00a0on the building reported in May\u00a0by Morningstar Credit<\/a>\u00a0valued the building at $40.5M.That represents\u00a0a 40% drop from the $68M value the property had at loan issuance in 2014. It was set to mature in November 2024 and moved to special servicing that month.\u00a0<\/p>\n

Occupancy at the Los Angeles office building was last reported at 36% in December, down from 50% the year prior and 70% at issuance, according to Morningstar.\u00a0<\/p>\n

With leases among some\u00a0tenants slated to expire soon, the property’s vacancy rate is expected to increase.<\/p>\n

The availability rate in Downtown LA in the second quarter was\u00a033.5%, according to Savills.<\/p>\n

This building isn’t the only one presenting challenges for Jamison. The company is staring down more than $200M in debt backed by 2.4M SF across seven of its buildings.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"811 Wilshire Blvd. in Downtown Los Angeles Jamison Properties is seeking to sell a 21-story office tower with…\n","protected":false},"author":3,"featured_media":55145,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5123],"tags":[1582,276,13044,2499,40660,2961,224,40661,40662,5337],"class_list":{"0":"post-55144","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-los-angeles","8":"tag-ca","9":"tag-california","10":"tag-downtown-la","11":"tag-downtown-los-angeles","12":"tag-jamison-properties","13":"tag-la","14":"tag-los-angeles","15":"tag-los-angeles-office","16":"tag-los-angeles-office-market","17":"tag-losangeles"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114831108548921526","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/55144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=55144"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/55144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/55145"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=55144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=55144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=55144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}