LONG BEACH, CA-Owners of the 444 W. Ocean Blvd. office building have refinanced the property with a $19.1-million loan to lock in a fixed rate, according to the Orange County office of Holliday Fenoglio Fowler. HFF arranged the financing for the 175,475-sf office tower.
Mike White of Holliday Fenoglio Fowler, who arranged the loan, says that borrower 444 Ocean LLC's new financing is a 10-year, fixed-rate loan through Aetna Life Insurance Co. that will be serviced through HFF. The 18-story 444 W. Ocean Blvd. office tower, which features oceanfront views, is 91% occupied and includes an underground garage of 335 spaces.
Tenants at 444 W. Ocean include a Premier Business Center operated by the Irvine-based Bascom Group, the law firm of Cantrell Green, California Bank and Trust and others. Built in 1968, the property occupies a site at the southeast corner of Ocean Boulevard and Queens Way in Downtown.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.