$17,000,000 Refinance Secured for Multifamily Property in Santa Monica, CA
Jan 23, 2026 Bank
Deal Summary
City National Bank provided a $17 million loan secured by a 68 unit multifamily property at 110 Pico Boulevard in Santa Monica, totaling approximately 40,500 square feet one block from the beach, according to public records. The borrower is CA 110 Pico LLC, with Zachary Zalben signing as member.
The 1964 vintage building sits in Santa Monica's Ocean Park area, where proximity to the beach sustains deep rental demand across unit vintages and rent regulation shapes both operations and valuation.
Los Angeles based banks with long histories in rent controlled coastal product remain the natural lenders on this profile, underwriting the regulatory landscape with a fluency that out of market lenders rarely match.
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Market Notes
Rent regulated coastal multifamily is a specialist lending market. The banks that have worked these submarkets for decades underwrite regulatory risk with nuance, while outside lenders often price it punitively or decline. Matching the asset's regulatory profile to the right lender pool is worth more than any single negotiation point.
Transaction Details
- Closing Date
- Jan 23, 2026
- Loan Amount
- $17,000,000
- Loan Type
- Bank
- Loan Purpose
- Refinance
- Capital Type
- Senior Debt
- Asset Type
- Multifamily
- Source
- Public records
Property
- Property Name
- 110 Pico Blvd
- Address
- 110 Pico Blvd
- City, State
- Santa Monica, CA
- Market
- Los Angeles
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Transaction details are compiled from public announcements, press releases, industry reporting, or information submitted by parties to the transaction, and have not been independently verified by LoanList CRE. Terms shown may be approximate. Nothing on this page constitutes a quote, offer, or guarantee of financing terms. Full disclaimer.