Description

Colliers is pleased to present the opportunity to acquire the $275 million non-performing loan (the “Loan”) secured by the fee simple interest in 725 S. Figueroa Street, known as EY Plaza (the “Property” or “Collateral”), in downtown Los Angeles.

EY Plaza is an iconic Class A office tower totaling 968,745 rentable square feet and currently 61% leased to 26 tenants. Its efficient, rectangular floor plates and substantial existing improvements give an investor a strong foundation for leasing the remaining space while managing its cost basis. Approximately 148,000 square feet of the available space — 15% of the building — is estimated to require less than $40 per square foot in tenant improvements, providing a meaningful capital advantage during lease-up.

EY Plaza anchors a full-city-block development at 7th and Figueroa that began in the early 1980s and expanded most recently with the 2023 completion of The Beaudry, a 785-unit luxury apartment building. The block brings together EY Plaza, a second office building, the 330,000-square-foot FIGat7th retail center, and The Beaudry in a distinctive live-work-play setting.

The Loan sale offers investors the opportunity to gain exposure to this landmark asset at a substantial discount to the outstanding note balance, historic downtown Los Angeles office trades, and estimated replacement cost of more than $750 per square foot.