Two properties in Inglewood near SoFi stadium have received a combined $24.6 million in financing. One of the properties is a single-tenant medical office building, and the other is a single-tenant industrial asset.
Century City-based mortgage banking and capital advisory firm Bandon Capital Advisors arranged the financing on behalf of a private investor.
Bryan Kenny, the firm’s co-founder and president, said he is still seeing demand for financing for well-located properties.
“Ecommerce is driving demand for logistics and distribution centers across the United States, especially in regions like Southern California that enable efficient distribution through access to major ports, highways, and airports,” Kenny said in a statement.
“In addition, medical office is extremely healthy in this area, with L.A. ranking as one of the top 10 medical office markets in the country in rent growth. These fundamentals are fueling financing activity in both sectors throughout Los Angeles,” he added.
The medical office building received $12 million in refinancing. It is a two-story, 17,982-square-foot building on a lot that includes parking.
“Our strong relationships with life company lenders led us to secure terms that ideally met our client’s needs,” Kenny said.
Meanwhile, the industrial building received $12.6 million. It has 11,000 square feet of industrial space on a 60,984-square-foot lot with parking.
“Now is the time for investors to stake their claim in Inglewood as the area explodes with redevelopment including SoFi Stadium, Hollywood Park, and Intuit Dome,” Kenny said. “We were very pleased to secure this favorable refinancing for our client in a market that will surely yield impressive returns for years to come.”
Kenny has more than two decades of experience in commercial real estate mortgage broker origination, underwriting and servicing. He founded Green River Funding in 2000, which originated loans on properties throughout Southern California. He later joined Sunrise Mortgage & Investment Co. While there, he originated more than $1 billion in loans.
