Rialto Capital Management Provides $113 Million Financing For Mixed-Use Campus In Northridge

The transaction involves a mixed-use asset located at 8500 and 8420-8440 Balboa Boulevard in Northridge, encompassing a total square footage of 469,749 and occupying 25 acres. The total loan amount secured for this property is $113,000,000.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $113,000,000
• Address: 8500 & 8420-8440 Balboa Boulevard
• Market: Northridge
• Asset Size: 469,749 SF
• Acres: 25
• Lender: Rialto Capital Management
• Landlords: Len O'Donnell - Affinius Capital; Kevin Hayes - Pendulum Property Partners
• Brokers: Jonathan Firestone, Blake Thompson, Peter Mavredakis & Jack Condon - Newmark

The Newmark team, led by Jonathan Firestone, was instrumental in arranging the financing, focusing on the recently upgraded campus that boasts more than 50% of its space leased to tenants such as Harman International and HemaCare, along with a weighted average lease term exceeding six years.