Torchlight Investors Provides $135M Refinance Loan For Mixed-Use Property In Malibu
23465 Civic Center Way
$135,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Feb 29, 2024
AI
The property located at 23465 Civic Center Way in Malibu, California, is a mixed-use asset comprising retail and office spaces. The loan for this property was secured for a total amount of $135,000,000 and was obtained for the purpose of a refinance. The lender for this transaction is Jon Stein from Torchlight Investors, while the debt intermediary involved is John Marshall from JLL.
Summary of transaction details:
- Property Type: Mixed-Use - Retail & Office
- Transaction Amount: $135,000,000
- Landlord: Pacific Equity Properties, Inc.
- Lender: Jon Stein - Torchlight Investors
- Debt Intermediary: John Marshall - JLL
Jon Stein, representing Torchlight Investors, provided the loan for this mixed-use property, showing the active involvement of reputable financial institutions in this real estate transaction. John Marshall, acting as the debt intermediary from JLL, played a crucial role in facilitating the refinancing process for the property at 23465 Civic Center Way. The collaboration between these key individuals and companies underscores the significant financial transactions that contribute to the dynamic real estate market in Malibu, California.
Players
Malibu Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93