LOS ANGELES—The owners of Olympic Plaza, a 244,448-square-foot office property in Los Angeles, have secured a $48 million loan to refinance some CMBS debt that will mature in the first quarter of the year, GlobeSt.com has learned exclusively. The names of the borrowers were not disclosed, but sources unrelated to the deal tell GlobeSt.com that Keitei Yokeno and Phillip Ho were the borrowers in the transaction. 

To avoid a prepayment penalty and to secure the lowest possible rate, the borrowers used a forward rate-lock program to secure the debt. The process began in March of 2015, and the deal closed in December 2015, after the prepayment penalty had expired.

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