CBRE Life Insurance Company Provides $21M Refinance Loan For Office Asset In Buena Park

The property asset involved in this transaction is an office building located at 6281 Beach Boulevard in Buena Park, comprising a total square footage of 356,756. A loan amount of $21,000,000 was secured for the refinancing of this asset, with a loan type categorized as Refinance. The financing terms include a 6.375% interest rate, a 3-year fixed rate with rolling 3-year resets over a 25-year term, a 25-year amortization schedule, and open prepayment windows occurring every 90 days before each 3-year anniversary.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $21,000,000
• Address: 6281 Beach Boulevard
• Market: Buena Park
• Lender: CBRE Life Insurance Company
• Loan Terms: 6.375% interest rate, 3-year fixed with rolling 3-year resets over a 25-year term, 25-year amortization, open prepayment windows every 90 days before each 3-year anniversary
• Brokers: Gianni Novo & Itzik Nassy - CBRE

The deal was facilitated by brokers Gianni Novo and Itzik Nassy, representing CBRE. Their involvement highlights the brokerage firm's role in securing the refinancing for this substantial office asset in the Buena Park market.