The Boardwalk
Solana Beach, CA
Coastal Retail & Office Property

LFB recently arranged $3,900,000 in permanent financing for a 27,230 square foot, single-story, retail and office building located on Pacific Coast Highway in Solana Beach, CA. The property has a total of 1.4 acres of land and occupies nearly ½ of the city block. The property was built in the 1950s but went through significant renovations in the early 2000s. At the time of refinance, the property was 100% occupied.

LFB was able to structure a 10-year loan, based on a 30-year amortization schedule. The pricing was 3.94%, fixed for 5 years, with the last 5 floating at WSJP minus 81 bps. The loan was non-recourse, had a 3/2/1 prepayment schedule, and LFB was able to get all lender fees waived. One additional item negotiated for our client was converting to an LLC from a dissolving irrevocable trust. This ownership change will happen at the end of year 2 and will not require any additional underwriting or legal paperwork as it was worked into the initial financing and loan documentation.

More Transactions

Park Circle
Single Family
Refinance and Vertical Construction Financing
Valley Center
Howe St. Townhomes
Construction-Completion Financing
Seattle, WA
Idaho 27 BTR
Single-family BTR
Construction Financing
Kuna, ID

stay in touch

Today's Rates

This will close in 0 seconds