Continental Park Continental Park

Continental Development Corp. has secured a $55 million loan to refinance Continental Park, an office and retail mixed-use complex in El Segundo. The firm secured a 10-year, interest only loan that was priced at a fixed interest rate of 3.34%.

A portion of the loan proceeds will be used to fund costs associated with the lease-up of an 80,000-square-foot office building, whose tenant is expected to vacate early next year. This created an underwriting challenge, especially when seeking long-term debt.

Sonnenblick-Eichner Co. principal David Sonnenblick secured the funds on behalf of the borrower.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.