$3.6M Mini-Perm Loan for Single-Tenant Creative Office Property
Transaction Description:
$3.6M Mini-Perm Loan for Single-Tenant Creative Office Property
65% LTV
Sub-3.50% Rate
Single Tenant
Short Term Lease Extension
$3.6M Mini-Perm Loan for a 5,000 SF Creative Office Property located in Santa Monica, CA. As part of the loan approval process, Mandri Capital prepared a meticulous submarket survey to prove out robust demand for self-contained, small box creative office in the Silicon Beach submarket.
Mandri Capital has closed multiple loans for this institutional client (including an earlier bridge loan on the subject property). This bank lender is active and looking to lend at attractive rates to best-in-class sponsors.
