March 13, 2020
Walnut Creek, CA-based Boardwalk Investments Group is set with $48,750,000 in bridge financing for acquisition of the office and retail components of 5th & PCH, an oceanfront, mixed-use project in downtown Huntington Beach, CA, that also features a hotel use, not included in the transaction.
The acquired asset elements encompass approximately 96,000 square feet of office space, currently leased to INNOCEAN Worldwide, and retail space featuring a mix of dining and apparel.
Gantry’s Andy Bratt and Spencer Seibring represented Boardwalk, securing a bridge loan with a three-year term and two 12-month extension options. The financing will be used to acquire the property with attractive leverage, while Boardwalk executes on its business plan for the asset.
According to Boardwalk’s Managing Director Tom Lam, “The acquisition of 5th & PCH is in line with our strategy to acquire well-located assets and enhance its long-term value through strategic operational and capital improvements.”
Get CRE News in 150 words
For comments, questions or concerns, please contact Chris Egger
Share this article
Tags: Acquisition, Financing, Mixed-Use, Office, Retail
I now own a business of my own with the help of Elegantloanfirm with a loan of $900,000.00 USD. at 2% rate charges, at first i taught with was all a joke until my loan request was process under five working days and my requested funds was transfer to me. am now a proud owner of a large business with 15 staffs working under me. All thanks to the loan officer Russ Harry he is a God sent, you can contact them to improve your business on.. email-- Elegantloanfirm@hotmail.com.
ReplyDelete