Northmarq’s Newport Beach office arranges $23.95M refinancing of Topanga & Victory in Woodland Hills, CA

WOODLAND HILLS, Calif. (Sept. 24, 2024) — Northmarq’s Newport Beach Debt + Equity team led by Managing Director David Blum successfully secured the $23.95 million refinancing of Topanga & Victory, a 165,336-sq.-ft. office building located at 6325 and 6355 Topanga Canyon Blvd. in Woodland Hills, California.

Northmarq arranged the permanent fixed, internal refinancing on behalf of the borrower through a correspondent relationship with a national commercial mortgage-backed securities platform. The transaction, which had a sub 60% loan-to-value ratio, was structured on a 5-year interest-only term.

“Despite challenges in the office sector, we were able to facilitate a cash-out refinance request on this high-quality asset for our client,” Blum said.

Conveniently located on the corner of Topanga Canyon Blvd. and Victory Blvd. — just one mile north of U.S. Highway 101 and 25 miles northwest of downtown Los Angeles — Topanga & Victory features office and medical office space. The property includes an upgraded lobby space and ample parking, and it is near restaurants, shopping locations and banking options. Nearby shops include The Village, Westfield Topanga, Costco, Nordstrom Rack and Urban homes.