Sonnenblick-Eichner Arranges $80M Loan to Refinance 162K-SF Creative Office Campus in Los Angeles
The Californer/10342996

LOS ANGELES - Californer -- Sonnenblick-Eichner Company has arranged an $80 million first mortgage loan secured by Del Rey Campus, a 162,031-square-foot creative office campus located in the West Los Angeles submarket of Marina del Rey.

The five-year, fixed-rate, interest only financing funded by Goldman Sachs refinanced a construction loan for the property, which was developed in 2020 by the sponsor,  a joint venture consisting of Continental Development Corporation and Mar Ventures, Inc.

Del Rey Campus is the market's newest, state-of-the-art creative office campus, offering flexibility for both full floor and multi-tenant buildouts.  All three buildings feature a 21-foot clear space with exposed ceilings, and generous balconies, as well as ground floor patios and a spacious courtyard with an abundance of open green space for outdoor meetings. The project also contains an onsite café, a fitness center with men's and women's locker rooms along with secured bicycle and surfboard storage areas.  Tenants in the property include the global headquarters for the World Surf League, the westside location for CENTRL Office, a co-working operator based in Portland, Oregon and a large video game studio.

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Located at 4800 Alla Road, at the intersection of Alla Road and Panama Street, the campus is immediately adjacent to the Marina Freeway (CA-90) and Culver Boulevard, providing convenient access to Marina del Rey, Playa Vista and Culver City.  These vibrant submarkets are part of "Silicon Beach," home to over 500 technology companies.

"This financing is indicative of the availability in today's market of fixed-rate capital for institutional quality office buildings," said Sonnenblick-Eichner Principal David Sonnenblick.

"We have closed multiple financing assignments for the Borrower, including office, retail, hospitality and special use, which underscores the significant amount of repeat business that we do," added Patrick Brown, also a Principal of Sonnenblick-Eichner Company.

About Sonnenblick-Eichner Company

Sonnenblick-Eichner Company (http://www.sonneich.com)  is a Los Angeles-based real estate investment banking firm that specializes in arranging structured finance for acquisition, construction and permanent loans, interim, preferred equity and mezzanine financing as well as joint-venture equity transactions.  The company is recognized for its expertise in marketing institutional real estate for sale and providing capital for all product types including office, hospitality, retail, industrial, and multifamily properties.