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LOS ANGELES — The Abbey Co. has received a $310 million bridge loan to recapitalize a 34-property Southern California portfolio. The assets securing the loan total about 3 million square feet of office, industrial and retail properties.
The properties are situated throughout the Inland Empire, San Diego, Los Angeles and Orange counties.
The proceeds were used to refinance two maturing CMBS loans and increase cash flow across the portfolio.
David Blitz of Nebo Capital arranged the interest-only loan. Sklar Kirsh acted as the firm’s legal advisors.