Parallel Capital Partners Receives $48.5M to Refinance Office Complex in Seal Beach

by Nellie Day

SEAL BEACH, CALIF. — Parallel Capital Partners has received $48.5 million to refinance The Ranch at Seal Beach, a 297,410-square-foot office complex. The complex is located at 3001-3005, 3010, 3020 and 3030 Old Ranch Parkway in Seal Beach.

The Ranch at Seal Beach is 93 percent leased to tenants like Leidos, Olson Urban Housing and Merrill Lynch. KPMG, UBS and Keller Williams recently signed new leases at the complex, while Wells Fargo renewed its lease and Finance of America Mortgage expanded its space.

Parallel purchased the property in 2013 for $85 million. The complex, formerly known as Bixby Office Park, underwent a rebranding and $1.5 million repositioning.

Pacific Western Bank secured the refinancing. JLL’s George Thomson and James Estrada represented Parallel in the lease transactions.

You may also like