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1/13/26
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Pendulum Property Partners and Affinius have refinanced The Mix, a 469.7k sf, three-building mixed-use campus situated roughly 25 acres in the heart of Los Angeles’ San Fernando Valley, with a new loan for $113 mil. The complex is located at 8500 Balboa Blvd and 8420-8440 Balboa Blvd, just north of Roscoe Blvd in Northridge.
The campus hosts a diverse tenant base across industrial, R&D/flex and retail uses. Key anchors include Harman International, an S&P AA-rated subsidiary of Samsung, HemaCare, a division of Charles River Laboratories and a national investment-grade rated tenant. Over 50% of the tenancy is investment-grade, with a weighted average lease term exceeding six years. This supports stable in-place cash flows and solid credit quality for the property.
The property has undergone recent capital improvements, including the strategic conversion of former office space to industrial use, the successful lease-up of prior vacancy and substantial upgrades to tenant spaces. These enhancements and a comprehensive amenity package contributed to strong tenant retention, as demonstrated by long-term headquarters occupancies and multiple tenant expansions.
Jonathan Firestone, Blake Thompson, Peter Mavredakis and Jack Condon with Newmark’s Debt & Structured Finance team arranged the financing, which was provided by Rialto.
“The Mix exemplifies the type of high-quality, credit-anchored campus that institutional lenders seek in today’s market,” said Firestone. “Its scale, diversified tenancy and recent capital program create a resilient cash flow profile and a compelling long-term investment for Affinius Capital and Pendulum Property Partners.”
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