February 25, 2016
A 24-story office tower at 600 B St. in San Diego, owned by a joint-venture between Angelo Gordon and Lincoln Property Company, has been refinanced for $53-million. The senior loan for the 359,218-square-foot building in the Downtown area was provided by PCCP, LLC.
The recent signing of a 60,000-square-foot, 15-year headquarters relocation lease with the San Diego Union Tribune, brings the property to 65-percent leased.
The existing loan was replaced, and additional capital will be used to complete a renovation, and to lease-up the remaining vacancy. Financing was arranged by Eastdil Secured.