Retail / Refinance

1st Lien Position

Torrance, CA

– 80,000 square foot retail center in Torrance, CA
– Half of the property was an owner-operated bowling alley
– Cash flow was negatively impacted due to COVID-19 and a bridge loan was needed to refinance two loans on the property
– The West Bay loan also provided a 12 month interest reserve
– The property was listed for sale as a redevelopment opportunity shortly after the West Bay loan closed

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