Waterfall Asset Management and Delaware Life Complete Refinancing of The Torrance in Southern California

Waterfall Asset Management and Delaware Life closed a $64.7 million loan facility refinancing The Torrance, a 301,000-square-foot, eight-story Class A office property in Torrance, California. The financing, provided by Waterfall managed accounts and Delaware Life, supports an in-place leasing strategy focused on long-term tenant renewals and filling available space; Newmark's Global Debt & Structured Finance team assisted in securing the transaction. For Ready Capital (NYSE: RC) the relevance is indirect — Waterfall is Ready Capital's external manager, and the release does not state that Ready Capital or its vehicles participated in the loan.

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