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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.