Class B Office Turned Class A Multifamily Scores $46M Refi

JLL Capital Markets closed a $46.25-million refinancing for 200 W Ocean, a 106-unit luxury multifamily asset in Downtown Long Beach. Senior managing director Jeff Sause, associate Jacob Michael and analyst Thomas Gonzalez represented the borrower in securing the three-year, floating-rate loan. 

“The successful refinancing of 200 W Ocean demonstrates the continued strength and investor confidence in Downtown Long Beach’s luxury multifamily market,” said Sause. “The property’s best-in-class amenities and strategic location position it to benefit from the significant public and private investment flowing into the area ahead of the 2028 Olympics.”

Delivered in 2022, 200 W Ocean is an adaptive reuse of a former Class-B office building transformed into 106 luxury residential units atop a three-story subterranean garage. The property sits within walking distance of the Metro Blue Line, Pine Avenue’s entertainment district and the city’s deep employment base, including the ports of Los Angeles and Long Beach, Molina Healthcare and California State University, Long Beach.

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