SAN DIEGO, CA—CIT Real Estate Finance hasprovided a $60 million senior secured credit facility to a jointventure between Rockwood Capital and TheMuller Company, to refinance existing debt and fundrenovations of Torrey Pines Court, a five-buildingclass A office campus.
The property consists of 206,128 square feet situated on 9.24acres directly adjacent to the 10th hole of the world famousTorrey Pines Golf Course in the La Jollaneighborhood of San Diego,
“We're pleased to provide this funding and establish these newrelationships with Rockwood Capital and The Muller Company,” saidMatt Galligan, President of CIT Real EstateFinance. “La Jolla offers some of California's most scenic PacificOcean views along with convenient access to restaurants and retailshops, established residential communities and an excellent schoolsystem. This deal further demonstrates CIT's ability to use ourlocal real estate market expertise to create a tailored financingsolution for our customers.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
