Mark Omid Bolour, DaJuan Bennett & Tyler Maghen Of BOLOUR Provide $22.25M Refinance For Office In Buena Park

The asset involved in the transaction is an office property located at 7000 & 7001 Village Drive in Buena Park, with a total square footage of 144,000. A refinance loan amounting to $22,250,000 was secured for this property.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $22,250,000
• Loan Type: Refinance
• Loan Terms: 24 Months
• Lender: Mark Omid Bolour, DaJuan Bennett & Tyler Maghen - BOLOUR; BA Debt Fund
• Broker: David Milestone - CBRE

The lending solution was required due to below-market occupancy and upcoming debt maturity, prompting the need for a higher-leverage option. The lender's note highlights the provision of a leasing reserve to enhance stabilization and the importance of quick execution to meet deadlines and facilitate future leasing success.