Bandon Capital Advisors, Los Angeles, arranged a $14 million loan for BLT Enterprises that refinanced a 49,000-square-foot single-tenant creative office building in El Segundo, Calif.
The refinanced property’s tenant, interactive entertainment software Nexon, uses the space for its U.S. headquarters.
Bryan Kenny, Co-Founder and President at Bandon Capital Advisors, noted the transaction shows the viability of office financing in the current landscape. “The Los Angeles office sector took a hit during the pandemic, but if landlords can deliver quality, amenity-rich office spaces outside of central business districts, they will likely outperform the greater office market,” he said.
