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Sonnenblick-Eichner Arranges $41 Mil in Refi Money on South Bay Office Building

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%.





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