The new owners acquired the building several months ago fromRoyal Investment Systems Partnership, according to Matt Douglas ofEl Segundo-based Venture West Funding Inc., a mortgage brokeragefirm that arranged the loan through KeyBank CommercialMortgage.

Dougas tells the loan provides funds for tenantimprovements, leasing commissions, and minor rehabilitation. Hesays the 22-story building was built in 1982 and has undergoneseveral minor renovations since. The multi-tenant building is 93%occupied, he says, and includes some ground floor retail space.

Privately owned Venture West arranges loans for the purchase andrefinance of single-family homes, apartment buildings andcommercial properties.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.