The asset involved is the Freeway Business Center located at 1500 Hughes Way in Long Beach. This Class A office property spans 490,055 square feet and is situated on a 19-acre site. The property was previously acquired in 2012 for $69 million from LXP Industrial and has a historical significance dating back to its construction in 1981. It is currently leased to government tenants and contributes to Omninet Capital’s broader portfolio of 3.2 million square feet in Los Angeles.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $95,000,000
• Lender: Bank of America
• Landlord: Neil Kadisha - Omninet Capital
• Prior Debt: $73.1 million from PNC Bank
• Date of Transaction: 03/19/2026

Neil Kadisha represents Omninet Capital in securing the loan from Bank of America. The transaction reflects the company's strategic financial maneuvering to replace existing debt while maintaining government-tenant leases in a prime market location.