Northmarq’s Newport Beach office arranges $40M refinancing of Olympic Plaza Office Center in West Los Angeles

LOS ANGELES — Northmarq’s Newport Beach Debt + Equity team led by Managing Director David Blum successfully secured $40 million in refinancing for Olympic Plaza, a six-story, 246,109-square-foot multi-tenant office building located at 11500 Olympic Blvd. in West Los Angeles.

Northmarq arranged the permanent fixed financing on behalf of the borrower through a correspondent relationship with a national commercial mortgage-backed securities platform. The transaction was structured on a five-year interest-only term.

“Despite continued headwinds in the office space, we were successful in delivering very favorable economic terms for our client,” said Blum.

Built in 1982, Olympic Plaza is strategically positioned near the intersection of Interstates 10 and 405, offering direct access to key business districts across Los Angeles. Tenants benefit from on-site amenities including a café, fitness center, car wash and ample parking.