TORRANCE, CALIF. — Waterfall Asset Management, an alternative investment manager, and Delaware Life have provided a $64.7 million loan facility for the refinancing of The Torrance, a Class A office property in Torrance. The financing will support the in-place leasing strategy for the building.
Situated on 7.3 acres, the eight-story property features 301,000 square feet of office space. The asset is currently leased to a diverse roster of tenants, including All Nippon Airways, Salon Republic, Barrister Executive Suites, Compass California, Unio Health Partners and Morgan Stanley Smith Barney.
Originally constructed in 1988, The Torrance features significant investment and modernization efforts, including recent upgrades to the building’s elevator and HVAC systems, common areas, roof, amenities and exterior. The property also features a two-story, glass-entry lobby, ground-floor café, fitness center and more than 1,200 parking spaces.
Jordan Roeschlaub, Nick Scribani and Chris Lozinak of Newmark assisted in securing the financing for The Torrance.