Wallace on Sunset
6230 Sunset Boulevard, Los Angeles, CA, 90028, US
200 Einheiten
Eigenschaften
Loan Purpose
Refinance
Origination Date
10/21/21
Maturity Date
10/21/26
Original Balance
$13.6 Million
Original Balance per Bed
$152,804
Current Unpaid Balance
$13.3 Million
Current Unpaid Balance per Bed
$148,976
Fixed Interest Rate
3.87%
Default Rate
Interest Rate + 5.00%
Gebotsabgabe
07/14/2026
Beschreibung
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $13.3 Million Student Housing Loan (the “Loan”). The Loan is secured by the deed of trust on nine student housing properties based in Los Angeles, CA (the “Property”, “Properties”, or “Portfolio”). In February 2026, the Loan became sub-performing for failing to maintain a DSCR of at least a 1.30x. As of June 2026, the Loan is sub-performing and has an unpaid principal balance of $13.3 million.
Serving the student population of the University of Southern California (“USC”), the Portfolio is comprised of nine student housing properties that total 89 beds across 24 units. Located within a convenient walking distance from campus, the Properties are also situated near prominent USC amenities including the USC Village, Fraternity Row, and other retailers and dining establishments. As of January 2026, the Property was 91% occupied.
The offering presents investors with the ability to acquire a loan at a favorable basis, with a potential path to ownership via an anticipated deed-in-lieu.
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Investment-Highlights
Barriers to Entry
The location that does not offer space for additional development as new supply in the market will be constrained by land-use regulations, environmental restrictions, and continued community resistance to new construction.
Path to Ownership
The Loan provides investors the ability to potentially step into the ownership position via an anticipated deed-in-lieu to be provided at closing.
Exceptional University
USC’s strong demand and selective acceptance rate of 11.7% is fueled by its top-30 academic ranking, tier-1 research opportunities, and elite athletics.
Medien
$13.3 Million Student Housing Loan | Los Angeles, CA (9 Objekte)
$13.3 Million Student Housing Loan | Los Angeles, CA (9 Objekte)
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Zuletzt aktualisiert
Jun 10, 2026