Waterfall Asset Management Completes Refinancing for The Torrance Office Property in California
Waterfall Asset Management has finalized a $64.7 million loan facility to refinance The Torrance, a Class A office property located in Southern California. The eight-story building spans 301,000 square feet and is currently occupied by tenants such as All Nippon Airways, Morgan Stanley Smith Barney, and others. The refinancing will support the existing leasing strategy aimed at securing long-term tenant renewals. The Torrance has undergone significant modernization efforts in recent years, including upgrades to its elevator system, HVAC, common areas, roof, amenities, and exterior features such as a two-story glass-entry lobby and fitness center. Located near major coastal communities like Manhattan Beach and Palos Verdes, the property is adjacent to Del Amo Fashion Center. Waterfall collaborated with Delaware Life on this transaction, highlighting its ability to provide flexible financing solutions for real estate owners. The Newmark Global Debt & Structured Finance team facilitated the deal.
Topics: loan_facility office_property refinancing