Waterfall Asset Management and Delaware Life closed on a $64.7 million loan facility to refinance The Torrance, a 301,000-square-foot Class A office property in Torrance, California.
Originally constructed in 1988, The Torrance has benefited from significant investment and modernization, including recent upgrades to the building’s roof, amenities and exterior. The property also features a café, fitness center and more than 1,200 parking spaces.
The Torrance is an eight-story office property situated on approximately 7.3 acres. The property is currently leased to a diverse roster of tenants, including All Nippon Airways and Morgan Stanley Smith Barney.
The Torrance is adjacent to the Del Amo Fashion Center and serves a diverse tenant base within the broader South Bay market, which is home to a range of corporate, healthcare, aerospace and defense-related employers.
The Newmark Global Debt & Structured Finance team of Jordan Roeschlaub, Nick Scribani and Chris Lozinak assisted in securing the financing of The Torrance.
