Waterfall Asset Management and Delaware Life have completed a $64.7 million loan facility to refinance The Torrance, a Class A office property in Torrance, California, totaling 301,000 square feet. The transaction recapitalizes a large multi-tenant office asset in the South Bay market and provides a new debt structure for the property.
Delivered in 1988, The Torrance has undergone a series of capital improvements and modernization efforts in recent years. Ownership has invested in upgrades to the building’s roof, along with enhancements to on-site amenities and the exterior. These improvements are positioned to support the property’s long-term competitive profile within its local office market.
The eight-story building is situated on approximately 7.3 acres and is designed as a multi-tenant office environment. The amenity package at The Torrance includes a café and a fitness center intended to serve tenants on site. The property also offers more than 1,200 parking spaces, providing a sizable parking ratio for office users.
The Torrance is leased to a diverse tenant roster that includes All Nippon Airways and Morgan Stanley Smith Barney. The mix of tenants reflects a range of business categories and underscores the building’s role as a multi-tenant asset rather than a single-tenant headquarters. No additional lease details or occupancy metrics were disclosed.
Located adjacent to the Del Amo Fashion Center, The Torrance sits within the broader South Bay market, an area described as home to a wide array of corporate, healthcare, aerospace and defense-related employers. The property’s position near a major regional mall and within a diversified employment corridor supports its profile as an institutional-quality suburban office asset.
The Newmark Global Debt & Structured Finance team of Jordan Roeschlaub, Nick Scribani and Chris Lozinak assisted in securing the financing for The Torrance. The announcement did not disclose loan terms such as rate, maturity, leverage or specific lender roles within the facility.
