Bandon Capital Advisors, a leading commercial mortgage banking and capital advisory firm based in Los Angeles, California, has arranged a $13.99 million loan for the refinance of a 49,000 square-foot single-tenant creative office building in El Segundo, California on behalf of BLT Enterprises.
This specific transaction underscores the viability of office financing in the current landscape, explains Bryan Kenny, co-founder and president at Bandon Capital Advisors. Bandon’s partners have completed more than $5 billion in historical transactional activity with Kenny and co-founding Principal William James successfully closing over $600 million in the last 36 months, including several office deals.
“Despite the challenges office real estate is undergoing and the uncertain economic environment, we were able to secure favorable financing for a quality office property on behalf of our client,” says Kenny. “The Los Angeles office sector took a hit during the pandemic, but if landlords can deliver quality, amenity-rich office spaces outside of CBDs, they will likely outperform the greater office market.”
