The assets securing the loan total approximately three million square feet of office, industrial and retail properties located in the the Southern California markets of the Inland Empire, Los Angeles, San Diego and Orange Counties. The loan proceeds were used to refinance two maturing CMBS loans and provide funds for capital improvements and lease-up costs.
The interest only loan was competitively priced and structured to allow the borrower maximum flexibility in managing the refinancing or sale of individual assets even prior to stabilization.
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