therealdeal.com
3 months agoSteelWave and Barings Give El Segundo Building to Lender
SteelWave and Barings have surrendered a 164,400-square-foot office building in El Segundo to a lender after facing $53.1 million in troubled debt tied to the property.
The affiliate, San Mateo-based 2160 GRAND PO, borrowed $69.6 million from New York-based New York Life to revamp the property, and the renovation was completed in 2022. [ more ]