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Life Company Provides Permanent Loan on Monterey Office Park
Slatt Capital arranged a $17,000,000 refinance for Ryan Ranch Office Park, a 95,895-square-foot multi-tenant office property located in Monterey. Built in 1992, the property was financed through permanent debt from a life insurance company, one of Slatt Capital’s correspondent lenders.
Michael Kaplan, Slatt Capital’s president, led the transaction on behalf of the unnamed borrower, with support from Andrew Friedeberg.
“Ryan Ranch Office Park is a well-located, multi-tenant office property, and our life company correspondent was a natural fit for permanent financing on an asset like this,” said Kaplan. “Our borrower was able to refinance existing debt with a long-term lender, and the strong interest in this property reflects continued life company appetite for well-located, multi-tenant office assets.”
Located at 30 Ragsdale Dr .on California’s Central Coast, Ryan Ranch Office Park hosts a high concentration of the Monterey Peninsula’s key employers and service providers, including a high number of medical users.
- ◦Financing
