News Outside the Region: Moinian Group closes $119.75 million refinance; loan by Bank of China

Los Angeles, CA The Moinian Group closed a $119.75 million refinance for 550 South Hill St., also known as the International Jewelry Center. Bank of China provided the five-year loan, interest only throughout the term. The new loan, 60% LTV, refinanced an existing $116.8 million CMBS loan.

The International Jewelry Center, located at 550 South Hill St. in the Jewelry District, has an assortment of over 350 retail and wholesale jewelry experiences all in one location. Today, the building’s leases are held by 405 tenants–predominantly jewelry manufacturers, wholesalers, retailers and couriers.