West Harbor Secures $61.5 Million Loan For 42-Acre Waterfront Development In San Pedro

The property asset involved is a development site located at 612-1422 South Harbor Boulevard, covering an area of 42 acres. The total loan amount is $61,500,000 financing secured from Oceanview Life and Annuity Company and C-PACE financing to support the $500 million waterfront development in San Pedro, California. The project will provide 321,205 square feet of leasable space and includes a 6,200-seat amphitheater, with tenants such as Yamashiro and Mike Hess Brewing.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $61,500,000
• Address: 612-1422 South Harbor Boulevard
• Market: San Pedro
• ASSET TYPE: Development Site
• ACRES: 42
• Lender: William Egan - Oceanview Life and Annuity; Commercial Property Assessed Clean Energy; Bayview PACE
• Landlord: Eric Johnson - Jerico Development; Wayne Ratkovich & Brian Saenger - The Ratkovich Company
• Broker Representatives: Alethia Halamandaris, Anna Sporrong, Bill Fishel, Broderick Flagg & Wyatt Strahan - Newmark

This transaction involves key individuals and companies including William Egan representing Oceanview Life and Annuity, which provided the loan, and Eric Johnson from Jerico Development along with Wayne Ratkovich and Brian Saenger from The Ratkovich Company representing the landlord. The brokers involved in this transaction are Alethia Halamandaris, Anna Sporrong, Bill Fishel, Broderick Flagg, and Wyatt Strahan, all from Newmark.