Waterfall Asset Management, an alternative investment manager, and Delaware Life have provided a $64.7 million loan facility for the refinancing of The Torrance, a Class A office property in Torrance, California. The financing will support the in-place leasing strategy for the building, according to a single summary from RE Business Online.
The eight-story property sits on 7.3 acres and features 301,000 square feet of office space. Originally constructed in 1988, The Torrance has undergone significant investment and modernization efforts, including recent upgrades to the building's elevator and HVAC systems, common areas, roof, amenities and exterior. The asset is currently leased to a diverse roster of tenants, including All Nippon Airways, Salon Republic, Barrister Executive Suites, Compass California, Unio Health Partners and Morgan Stanley Smith Barney. The property also features a two-story, glass-entry lobby, ground-floor café, fitness center and more than 1,200 parking spaces. Jordan Roeschlaub, Nick Scribani and Chris Lozinak of Newmark assisted in securing the financing.
The refinancing suggests continued lender appetite for well-leased, upgraded office assets in Southern California submarkets, even as broader office-sector conditions remain uneven. The presence of multiple established tenants across professional services, aviation and healthcare may support the in-place leasing strategy referenced in the financing announcement. However, the single-source nature of this report limits the ability to assess loan terms, borrower identity, or the property's current occupancy and cash flow.
What remains unknown includes the loan's interest rate, maturity, amortization schedule, and whether the refinancing replaces existing debt or extracts equity. The dossier does not identify the borrower or provide current occupancy figures, rental rates, or the building's valuation. Without additional sources or property-level financials, the transaction's broader market significance cannot be independently confirmed.