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$17,100,000 | Carpinteria, CA building

Carpinteria, CA

Transaction Type



Loan Type

Bridge Loan

Situation & Challenges

  • Class B office campus comprised of three buildings on 9+ acres overlooking the Pacific Ocean
  • 61% leased to two tenants
  • Lease expiration would occur for the tenant occupying 33% of net rentable area during the loan term
  • Tenant improvement/leasing commission (TI/LC) facilities were needed to improve and market the space to stabilize the property

Solutions & Highlights

  • Structured future facilities totaling over $1.8 million
  • Local, experienced management/leasing representative had been involved with the property for several years
  • 3-year term plus extensions