SoCal Office Building Lands $65M Refi
Related Cos. owns the asset.
Waterfall Asset Management and Delaware Life have provided a $64.7 million loan facility to refinance The Torrance, a 301,000-square-foot Class A office property in Torrance, Calif.
While the lenders did not disclose the owner of the building, Yardi Matrix lists the landlord as Related Cos., which paid $106.7 million to acquire the asset from Stream Realty Partners in 2017.
The Torrance is an eight-story office property on about 7.3 acres. Tenants include All Nippon Airways, Salon Republic, Barrister Executive Suites, Compass California, Unio Health Partners and Morgan Stanley Smith Barney.
READ ALSO: Office Demand Surges with Higher Absorption, Increasing Sales
Completed in 1988, The Torrance has undergone recent upgrades to its elevator and HVAC systems, common areas, roof, amenities and exterior. The property also features a two-story glass lobby, ground-floor café, fitness center and more than 1,200 parking spaces.
The financing provided by Waterfall-managed accounts and Delaware Life will support the property’s in-place leasing strategy, which focuses on securing long-term tenant renewals and leasing available space. The property has a vacancy rate of 6.7 percent, according to Yardi Matrix.
Located at 21250 Hawthorne Blvd, The Torrance is located about 21 miles south of downtown Los Angeles.
Newmark’s Global Debt & Structured Finance team of Co-President Jordan Roeschlaub, Vice Chairman Nick Scribani and Managing Director Chris Lozinak assisted in securing the financing.
LA office market shines
Los Angeles ranked sixth among U.S. metros for office delivery volume in the first half of 2026, according to a Commercial Property Executive analysis of Yardi Matrix data. The city and suburbs are seeing a surge that puts an end to two years of lackluster office deliveries, with two completed projects totaling nearly 579,500 square feet.
And that’s only one facet of LA’s office rebound. Overall vacancy declined to 14.1 percent as of May 2026, well below the national average of 17.6 percent, according to a July Yardi Matrix report.
You must be logged in to post a comment.