Back-Bay-Center-Costa-Mesa-CA

Ready Capital Closes $20.1M Loan for Back Bay Center Retail/Office Building in Costa Mesa, California

by Amy Works

COSTA MESA, CALIF. — Ready Capital has closed a $20.1 million loan for the acquisition, renovation and stabilization of Back Bay Center, a mixed-use retail and office property located in the Eastside submarket of Costa Mesa.

The asset features 52,000 square feet of Class B retail and office space.

Ready Capital National Bridge Originations Team closed the non-recourse, fixed-rate loan that features an 84-month term, 48 months of interest-only payments and flexible pre-payment options.

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