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1888 Rosecrans Los Angeles Office

Fisker HQ in Manhattan Beach Gets $30M Refi

Sonnenblick-Eichner Company recently arranged $30 million of first mortgage debt for Continental Development Corporation to refinance 1888 Rosecrans Ave., a 78,540-square-foot class-A office building in Manhattan Beach. The Rosecrans location serves as the new global corporate headquarters of Fisker Inc. The 10-year interest-only loan has an interest rate of 3.15 percent for the entire term.

“Although the building is 100 percent leased to Fisker, a relatively new company that recently went public, we were able to generate interest from multiple lenders on a 10-year interest only basis,” says David Sonnenblick, a principal of Sonnenblick-Eichner Company.

The three-story building is located within Continental Park, a 2.7-million-square-foot mixed-use development located on the Rosecrans Corridor in Manhattan Beach and El Segundo. Continental Park is comprised of class-A office space, and retail and recreational amenities in a campus setting.

“There is tremendous liquidity in the market for institutional-grade real estate assets,” says Patrick Brown, also a principal of Sonnenblick-Eichner Company. “As evidenced by this financing, a 10-year interest only structure is still readily available at very attractive terms.”


Inside The Story

Sonnenblick-Eichner Company

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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