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Bandon Capital Arranges $14M Refi of Single-Tenant Creative Office
Bandon Capital Advisors, a commercial mortgage banking and capital advisory firm based in Los Angeles, arranged a $13.99-million loan to refinance a 49,000-square-foot single-tenant creative office building in El Segundo on behalf of BLT Enterprises.
The transaction underscores the viability of office financing in the current landscape, said Bryan Kenny, co-founder and president at Bandon Capital Advisors. “Despite the challenges office real estate is undergoing and the uncertain economic environment, we were able to secure favorable financing for a quality office property on behalf of our client,” he said. “The Los Angeles office sector took a hit during the pandemic, but if landlords can deliver quality, amenity-rich office spaces outside of CBDs, they will likely outperform the greater office market.”
He added that with experienced sponsorship, a historically good submarket and moderate leverage, lenders are willing and able to finance office properties.
- ◦Financing
