Richard Weintraub Landlord Secures $8.75 Million Loan For Office Acquisition In Malibu

The asset involved in the transaction is an office property located at 22619 Pacific Coast Highway in the Malibu market. The property encompasses a total square footage of 39,286 and consists of 19 units. The loan amount secured for this acquisition is $8,750,000, with a loan type designated as acquisition, featuring terms of 24 months plus a 12-month extension and a loan-to-purchase ratio of 70%.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $8,750,000
• Loan Type: Acquisition
• Loan Terms: 24 months + 12 month extension
• Loan-to-Purchase Ratio: 70%
• Address: 22619 Pacific Coast Highway
• Market: Malibu
• Landlord: Richard Weintraub
• Lender: Auri Streit - Vicino Limited Partnership
• Broker Representatives: Gianni Novo & John Thrall - CBRE
• Units: 19
• Square Footage: 39,286

Key individuals involved in the deal include landlord Richard Weintraub, who holds ownership of the property, and lender Auri Streit representing Vicino Limited Partnership. The brokerage representation for the transaction was provided by Gianni Novo and John Thrall from CBRE, highlighting the collaboration among industry professionals throughout the acquisition process.