SAN BERNARDINO, CA-Quantum Capital Partners (QCP) has arranged a $6.2 million acquisition loan for a 60% occupied office building located in the Inland Empire. The five-year, 4.25% fixed rate loan has a 2-year step down prepayment penalty.

The borrower, an experienced property manager that specializes in stabilizing distressed assets, has allocated $1 million for renovations, tenant improvements, and leasing commissions. The two-story, 85,000-square-foot office building is known as Three Carnegie Plaza and is located at 735 East Carnegie Drive in San Bernardino. Built in 1985, the L-shaped structure is located within the Tri-City Campus, a commercial real estate complex with 22 office buildings and 21 retail spaces.

“Over the last three years, the property experienced low occupancy and decreasing net operating income. It's location in a secondary market also presented a financing challenge,” said Jonathan Hakakha, managing director at QCP. “We are very pleased that one of our longest standing lender relationships was able to accommodate our client's needs,” he added.

Quantum Capital Partners (www.quantumcp.com) is a leading mortgage banking firm that provides comprehensive real estate finance and advisory services across all major asset classes. With more than $3 billion of debt and equity financing experience nationwide, Quantum's principals have developed a diverse network of capital providers that allows their clients to benefit from customized financing structures that encompass the entire capital stack.

Instant Insights /

Quantum Capital Arranges Loan for Distressed Office Property

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