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5/01/26
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A 106-unit, luxury multifamily asset in downtown Long Beach has been refinanced with a new loan for $46.25 mil. The property, 200 W Ocean, is an adaptive reuse of a former Class B office building transformed into 106 luxury residential units atop a three-story subterranean garage.
The property, delivered in August 2022, features floor-to-ceiling windows, a podium-level amenity deck with pool and fireplaces, ocean-view balconies in 60% of units, quartz countertops, hardwood flooring, a state-of-the-art fitness center and smart entry features.
Situated within walking distance of the Metro Blue Line, 200 W Ocean is also close to Pine Avenue's entertainment district and the city's deep employment base, including the ports of Los Angeles and Long Beach, Molina Healthcare and California State University, Long Beach.
Long Beach continues to benefit from unprecedented investment momentum as the city prepares for the 2028 Olympic Games. The Elevate '28 initiative is driving transformative infrastructure improvements, including $145 mil for the new Belmont Aquatic Center and $80 mil for Convention Center upgrades. Private investment is following, with projects such as the $700 mil Hard Rock Hotel and $100 mil Pike Outlets redevelopment, all within walking distance of 200 W Ocean.
Senior Managing Director Jeff Sause, Associate Jacob Michael and Analyst Thomas Gonzalez with JLL Capital Market’s Debt Advisory team arranged the three-year, floating-rate loan.
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