Pasadena Office Building

Pasadena Office Building

$7,350,000 Bridge Loan

44,206 Sf Office Building

Pasadena, CA

Highland arranged a $7,350,000 non-recourse bridge loan with approximately $450,000 of additional funding for cap ex, TI & LC. The loan equated to 80% LTC and was provided by debt fund. The $8,600,000 acquisition of a 44,206 sf office building with ground floor retail located in Pasadena, CA. The property was 70% occupied at the time of acquisition. The business plan is to upgrade the common area space and renovate/update the vacant offices.

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