Jamison’s Equitable Plaza value slashed by 62%
The Jamison-owned Equitable Plaza in Koreatown saw its value plummet by about 62 percent. The latest appraisal put the office tower’s estimated value at about $58 million, compared to $150.5 million in 2014, when Jamison landed its loan, according to Morningstar Credit. (The appraisal is dated last August, but the value was not reported in deal documents until this month, per Morningstar.) That comes out to around $80 per square foot, compared to $200-plus per square foot more than a decade ago. Jamison did not respond to a request for comment. This also means the tower is now believed to […]This article originally appeared on The Real Deal. Click here to read the full story.
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