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Vectra Management Group Secures $26.8 Mil in Refi Money on Two L.A. Area Office Buildings

8/12/20

Vectra Management Group has obtained $26.8 mil in refi money on two L.A. County office properties. The refinancing was arranged by Bruce Francis, Doug Birrell, Shaun Moothart, Bob Ybarra, Dana Summers, and Jim Korinek with CBRE Capital Markets’ Debt & Structured Finance team.

The buildings are located at 11925 Wilshire Blvd in Los Angeles and 2200 Pacific Coast Highway in Hermosa Beach. The loan for the Wilshire Blvd property was for $15.9 mil, while the loan on the Hermosa Beach asset was for $10.9 mil.

The three-story, 33k sf creative office building at 11925 Wilshire Blvd features ground-level retail and ample parking. Built in 1999 and renovated in 2017, the building is proximate to complimentary retail and office properties on Santa Monica Boulevard and throughout the Brentwood area.

The Hermosa Beach building, containing 37.7k sf of space over three floors, was originally constructed in 1982 and renovated in 2015. The property serves the affluent South Bay beach community and is leased to a diverse mix of quality tenants. The surrounding area is fully developed with a mixture of commercial and residential uses.

“These two office properties continue to perform well amid the current environment, and the refinance enabled our client to take advantage of historically low interest rates while also accessing excess equity to pursue additional investment opportunities,” said Birrell.

Founded in 1993, Vectra Management Group is a boutique real estate investment, development and management company with offices in New York, Los Angeles and Salt Lake City. The company specializes in complex, value-added commercial real estate investments both for its own account and as an asset and property manager for others.




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