Bandon Capital Advisors, a commercial mortgage banking and capital advisory firm based in Los Angeles, has arranged a $13.99-million loan to refinance a 49,000-square-foot single-tenant creative office building in El Segundo on behalf of BLT Enterprises. This transaction highlights the viability of office financing even amidst the current landscape and uncertain economic environment.
According to Bryan Kenny, co-founder and president at Bandon Capital Advisors: “We were able to secure favorable financing for this quality office property on behalf of our client despite the challenges faced by office real estate today.” He added that with experienced sponsorship, good submarket performance historically as well as moderate leverage; lenders are willing and able to finance such properties successfully.
The success story further reinforces that if landlords can deliver quality amenities outside CBDs they will likely outperform other markets within the greater LA area’s Office sector which took an unfortunate hit during pandemic times.
