Celtic Bank Provides $17.6M Acquisition Loan For Hotel Conversion In Torrance

The property asset involved in this transaction is a hotel located at 4111 Pacific Coast Highway in Torrance. It features 90 keys and spans a total of 54,311 square feet. The acquisition loan amount for this property is $17,600,000, provided by Celtic Bank.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $17,600,000
• Loan Type: Acquisition
• Lender: Celtic Bank
• Market: Torrance
• Brokers: Tyler Waller & Ron Balys - Marcus & Millichap
• Deal Highlights: Construction/ Bridge Financing, Hotel Conversion

The key individuals involved in this transaction are brokers Tyler Waller and Ron Balys, representing the deal through Marcus & Millichap. Their involvement includes facilitating the acquisition for the property, with noted insights on the financing aspects and transformation of the asset.