JLL Capital Markets led the financing efforts for 200 Pine in Downtown Long Beach<\/p>\n
JLL\u202fCapital Markets has announced that it has arranged a $7.48-million refinancing<\/a> for 200 Pine, a Class A office<\/a> and retail building totaling 64,376 square feet in Long Beach, California.<\/p>\n JLL<\/a> worked on behalf of the borrower, Bascom Group, to secure permanent, fixed-rate financing.<\/p>\n Renovated in 2022, 200 Pine is a six-story building that is 81% leased to 15 tenants across diverse industries. Recent leasing momentum includes a newly signed lease with Dirty Birds<\/a>, a restaurant and sports bar, which will occupy a portion of the ground-floor retail space. The property features high-quality, Class A common areas, modern tenant improvements, ground-floor retail space and a 132-space attached parking garage.<\/p>\n The property is positioned at the corner of Pine Avenue and Broadway, benefiting from heavy pedestrian traffic and excellent visibility in the heart of Downtown Long Beach<\/a>. 200 Pine is close to the city\u2019s key civic, cultural and business landmarks as well as nearly 5,000 new housing units in Long Beach.<\/p>\n JLL\u2019s Debt Advisory team representing the borrower included director Brad Vansant and analyst Jenna Frakes.<\/p>\n