JLL Arranges $7.5M Refinance Loan For Bascom Group's 200 Pine Avenue In Long Beach

The property at 200 Pine Avenue is a mixed-use asset located in Long Beach, encompassing a total square footage of 64,376. Recently renovated in 2022, it features a six-story structure along with a parking garage accommodating 123 vehicles. The property is currently 81% leased to 15 tenants, which includes newly signed restaurant Dirty Birds, as well as existing tenants Agaves Kitchen & Tequila and Agaves Ultra Lounge.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $7,500,000
• Loan Type: Refinance
• Landlord: Paul Diamond, David Kim & Jerry Fink - The Bascom Group
• Brokers: Bradley Vansant & Jenna Frakes - JLL

JLL Capital Markets facilitated the refinancing deal for the Bascom Group by arranging a permanent, fixed-rate loan amounting to $7.5 million for the property. The involvement of Bradley Vansant and Jenna Frakes from JLL signifies their role in the transaction’s success, focusing on securing favorable loan terms for the landlord and enhancing the property’s financial strategy.