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7/28/23
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Two properties in the City of Inglewood were refinanced for a single investor in transactions totaling $24.55 mil. The properties area a single-tenant medical office building and a single-tenant industrial asset, both located directly across from the NFL’s new SoFi Stadium. The financings were arranged by Bryan Kenny at Bandon Capital Advisors.
One of the transactions was a $12 mil refi loan for an 18k sf, single-tenant medical office property with a parking lot. Sitting in a prime location directly across from the Stadium, the two-story building sits on an oversized 40.6k sf lot with ample on-site parking – a valuable amenity, especially given proximity to SoFi Stadium, the Forum, and the future Intuit Dome.
The new loan features a three-year fixed rate term, 30-year term and amortization, and an 85-day rate lock at application, with no possibility of a maturity default in the future.
The other deal was a $12.55 mil refi of a single-tenant industrial building and accompanying parking lot, also directly across from SoFi Stadium. The asset features 11k sf of industrial space on a 61k sf lot with ample parking – again, a valuable amenity especially given the property’s proximity to major sports and entertainment venues.
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