{"id":36302,"date":"2023-05-31T09:34:14","date_gmt":"2023-05-31T06:34:14","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=36302"},"modified":"2025-03-25T14:23:41","modified_gmt":"2025-03-25T11:23:41","slug":"oaktree-secures-loan-444-south-flower","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/oaktree-secures-loan-444-south-flower\/","title":{"rendered":"Oaktree Gives Bunker Hill Office New Lease on Life"},"content":{"rendered":"

Months after transferring ownership following a foreclosure sale, the office tower at 444 S. Flower St. in downtown Los Angeles is on the cusp of a reversal of fortune as current owner Oaktree Capital Management has secured a loan extension for the property. According to property records, the 48-story building will receive roughly $259 million in financing from American General Life Insurance<\/a>.<\/p>\n

\u201cThe building\u2019s team now has the resources to more aggressively secure new tenants, continue our lease-up trajectory, and look for ways to enhance the experience for current and prospective tenants,\u201d said Oaktree Managing Director, Justin Guichard. \u201cWe know that a return to office will drive a flight to quality. Oaktree has been a constant presence in downtown Los Angeles for nearly three decades and is excited to invest directly into an office project that is in our backyard.\u201d\u00a0<\/strong><\/p>\n

In addition, the owner secured\u00a0the services of Hayley\u00a0Blockley,\u00a0Josh\u00a0Wrobel\u00a0and\u00a0Peter\u00a0Hajimihalis\u00a0of JLL to get the tower leased up. CBRE\u00a0will manage the property, also known as\u00a0FourFortyFour. Since taking over the building in January, Oaktree has already leased 90,000 square feet.<\/p>\n

FourFortyFour\u2019s previous owner, real estate investment firm Coretrust Capital Partners, had acquired the 914,343-square-foot Bunker Hill office space in 2016 for a total of $336 million. Two years later, Coretrust refinanced the property with a $209.6 million senior loan from AIG and a $64.7 million three-year mezzanine loan from Oaktree at an 8.6% interest rate. By the start of 2023, Coretrust owed $110 million on the loan, with 23% of 444 S. Flower St. still sitting vacant.<\/p>\n

Having trouble finding the right office space for your business?\u00a0<\/em>CommercialCafe.com<\/em><\/a>\u00a0can help you choose between top-notch listings across all major U.S. markets and get the best fit for your company\u2019s needs.<\/em><\/p>\n\n\n\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Office space in Manhattan<\/a><\/td>Office space in Los Angeles<\/a><\/td>\n<\/tr>\n
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Office space in Charlotte<\/a><\/td>Office space in Las Vegas<\/a><\/td>\n<\/tr>\n
Office space in Boston<\/a><\/td>Office space in Denver<\/a><\/td>\n<\/tr>\n
Office space in Atlanta<\/a><\/td>Office space in Washington, D.C.<\/a><\/td>\n<\/tr>\n
Office space in Miami<\/a><\/td>Office space in Brooklyn<\/a><\/td>\n<\/tr>\n
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Office space in Phoenix<\/a><\/td>Office space in San Diego<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n","protected":false},"excerpt":{"rendered":"

Months after transferring ownership following a foreclosure sale, the office tower at 444 S. Flower St. in downtown Los Angeles is on the cusp of a reversal of fortune as current owner Oaktree Capital Management has secured a loan extension for the property. According to property records, the 48-story building will receive roughly $259 million…<\/p>\n","protected":false},"author":56,"featured_media":36304,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,4014,39],"tags":[],"class_list":["post-36302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nOaktree Secures Financing for 444 South Flower | CommercialCafe<\/title>\n<meta name=\"description\" content=\"Oaktree Capital Management has secured financing for 444 S. 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