Bandon Capital Advisors, Los Angeles, announced it arranged two refinancing transactions totaling $24.55 million for properties in Inglewood, Calif., across from the new NFL SoFi Stadium.
One property is a single-tenant medical office and parking lot with $12 million in refinancing. Bandon arranged a loan featuring a three-year fixed rate term, 30-year term and amortization and an 85-day rate lock at application, with no possibility of a maturity default in the future.
The other property is a single-tenant industrial building and parking lot with $12.55 million in refinancing. Bandon said its relationships with life company lending partners made it possible to rate-lock the client’s application for 85 days and close the deal with favorable terms with rate resets every three years giving owner prepay flexibility every three years throughout loan term.
