MetroGroup Provides $15.5M in Bridge Refinancing for Production Studios in Vernon, California

VERNON, CALIF. — MetroGroup has funded $15.5 million in bridge refinancing for the undisclosed owner of a 270,000-square-foot property in Vernon.

The asset is fully occupied by the owner’s start-up company, which provides studio space to film and television production companies. The borrower is converting the property from a corporate headquarters building into a flex, office and industrial space.

Ivan Kustic of MetroGroup arranged the cash-out refinancing that the borrower used to retire a higher-rate maturing loan and provide working capital.