Goldman Sachs just doubled down on Marina del Rey’s office scene with an $80 million mortgage refinancing for Del Rey Campus, a three-building creative complex tucked into the neighborhood. The fresh debt wipes out the original construction loan and keeps the 162,031-square-foot property in the hands of the same sponsors who delivered it in 2020. The campus is home to the World Surf League’s global headquarters, an Electronic Arts studio, and a Centrl Office coworking location.
According to the Los Angeles Business Journal, Goldman Sachs issued a five-year, fixed-rate, interest-only first mortgage that refinances the development’s construction financing. The outlet identifies Continental Development Corp. and Mar Ventures Inc. as the sponsors and reports that monthly asking rents hover around $4.75 per square foot. The Los Angeles Business Journal also quotes Sonnenblick-Eichner Principal David Sonnenblick, who said the deal signals that fixed-rate capital is available for institutional-quality office properties.
Arrangement and lender
Sonnenblick-Eichner Company served as the loan arranger and publicly unveiled the transaction in a press release spelling out the five-year, interest-only structure. In that announcement, Sonnenblick-Eichner reiterated that the mortgage replaces the project’s construction loan and sets the owners up to concentrate on leasing and operations in the near term; the statement was distributed via Sonnenblick-Eichner.
What the campus offers
The Del Rey Campus consists of three two-story buildings with 21-foot clear heights, open floorplates, balconies, ground-floor patios, and a landscaped central courtyard, according to Commercial Property Executive. Floorplates range from roughly 22,700 to 29,300 square feet. The complex provides about 620 surface parking stalls and shared amenities that include an on-site café, a fitness center, and secured storage for bicycles and surfboards. CBRE is in charge of leasing the 2020-vintage property, which is marketed squarely at creative and tech users.
Why this matters for the Westside
Even as lenders pick their spots, the Del Rey refinancing is one of several recent deals showing that newer, amenity-heavy office space on the Westside can still draw capital. The Real Deal cites CBRE data finding that the Westside led Greater L.A. leasing in late 2025, even with vacancy in the submarket stuck above 20 percent. That backdrop helps explain why investors remain focused on well-leased, institutional-grade assets. For owners holding those kinds of buildings, a fixed-rate, interest-only loan can buy time to work on rents and tenancy without the drag of near-term principal payments.
The Del Rey Campus financing, with its five-year term and interest-only structure, gives the landlords breathing room to pursue tenant improvements and lease-up efforts while interest rates stay elevated. Reports from local business outlets and the broker’s own announcement indicate the transaction closed this week, with CBRE continuing to shop any remaining space to prospective tenants.
