Supplemental public record background
Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C1 Mortgage Loan No. 6 (acquisition financing) Note date
Related case: Barkohanai v. Saadian, Los Angeles Superior Court Case No. 26STCV23348
This page reproduces the figures in the one page summary of a 2025 commercial mortgage backed securities disclosure filed with the United States Securities and Exchange Commission. The filing identifies Bobby B. Saadian as the borrower sponsor and guarantor of the loan that financed the acquisition of Figueroa Tower at 660 S. Figueroa Street in downtown Los Angeles, and reports the building's underwritten income, its trailing income before the Wilshire Law Firm lease, and the terms of that lease. This document was not filed as an exhibit to the complaint and does not represent a court finding. The SEC filing itself is the authoritative source; links to the specific EDGAR documents are at the foot of this page.
| Borrower sponsor and guarantor | Bobby B. Saadian |
|---|---|
| Loan purpose | Acquisition financing |
| Mortgage loan seller | Argentic Real Estate Finance 2 LLC |
| Mortgage rate | 7.5190% per annum, fixed |
| Note date | December 20, 2024 |
The $53.6 million loan is cross collateralized over Figueroa Tower and the Residence Inn Costa Mesa. The SEC filing reports a combined purchase price of $83,499,974 and a combined appraised value of $88 million.
| Building size | 282,331 SF, Class A office |
|---|---|
| Figueroa share of the loan | 51.5% ($27.6 million) |
| Underwritten net operating income | $5,616,019 |
| Underwritten net cash flow | $5,263,106 |
| Trailing NOI before the Wilshire lease | $1,138,595 |
The SEC filing reports $5,616,019 in underwritten NOI for Figueroa Tower, compared with $1,138,595 in trailing NOI before the Wilshire Law Firm lease.
| Space leased | 131,598 SF, 46.6% of the building |
|---|---|
| Lease term | Ten years; began December 2024; expires December 19, 2034 |
| Annual underwritten rent | $4,737,528 ($36.00 per SF) |
| Tenant relationship | Borrower sponsor affiliate; Bobby B. Saadian is sponsor and guarantor |
SEC EDGAR, Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C1 (CIK 0002056713).
Structural and Collateral Term Sheet ↗, Mortgage Loan No. 6, pages T-73 to T-80, accession 0001539497-25-000819.
Annex A-1 ↗, property row 6.01, accession 0001539497-25-000815.
The one page PDF version of this summary is available at 660-Fig-Key-Figures-from-SEC-Filing.pdf. The figures on this page and in the PDF are identical.