|
9/28/15
|
Sonnenblick-Eichner Company has arranged $41 mil of first mortgage financing for Continental Park Terrace, a 200k sf, Class A office building along the Rosecrans Corridor in the Manhattan Beach/El Segundo submarket of LA’s South Bay region. The building is located at 2361-2381 Rosecrans Ave, within Continental Development’s Continental Park campus.
Continental Park Is a 3 msf, mixed-use development that provides the best of premium office space along with first class retail, recreation and residential amenities in a high quality campus setting. Tenants at Continental Park Terrace include Konami Digital Entertainment, Morgan Stanley and Paul Martin’s American Grill.
The non-recourse, 15-year fixed rate mortgage was provided by a life insurance company. The loan, which was used to repay an existing first mortgage that Sonnenblick-Eichner also arranged for the property in 2006, has an interest rate of of approximately 3.5%.
|
|
Return to the Archive page
|
|
|
|
|