$6M Acquisition Loan on a Corona del Mar Coast Highway Building

The title chain at 2713 East Coast Highway carries some startling numbers for a two story storefront building: a $195,500,000 deed of trust from LoanCore Capital Credit REIT in 2018, a $175,000,000 deed of trust from Coastline Loans in 2021, a $20,000,000 Nano Banc deed of trust in 2022. Those were portfolio scale facilities crossing this parcel among others. The newest recording is different in kind: on May 14, 2026, City National Bank recorded a $6,000,000 single asset acquisition loan crossing the paired parcels at 2711 and 2713 East Coast Highway, executed the day before, for buyer Space Cdm Llc. County records show a $10,000,000 sale recorded March 12, 2026 from an individual owner of record.

The building is known as The Master's Building, a two story office and retail property on the Corona del Mar stretch of Coast Highway, built in 1963 and renovated in 2018 per its marketing materials, which describe about 13,678 rentable square feet. Optima Salon Suites operates there per directory listings updated May 2026. A 2015 trade article about the building described twelve tenants and a $10,500,000 asking price at the time, useful context for the $10,000,000 recorded sale eleven years later.

The recorded debt in between maps the property's passage through a large portfolio: LoanCore facilities stepped from $35,000,000 in May 2017 to $60,000,000 that July, $69,000,000 that November, and $195,500,000 in November 2018, followed by the Coastline and Nano Banc instruments, a $6,540,000 thirteen month construction deed of trust from PMF CA REIT in 2023, and a $1,165,000 private party deed of trust in July 2025. Thirteen renderable instruments and ten distinct lenders appear since 2002. The sequence is presented as recorded; the 2026 loan is simply the first in a decade sized to the building alone.

City National Bank, a Royal Bank of Canada subsidiary with commercial real estate offices that include Orange County, has six closings tracked on LoanList, two of them in Orange County. Within the county's tracked record this loan ranks 22nd of 25 by size; no other Orange County mixed use closing is tracked this spring, so no same type comparison is offered.

For buyers of coastal storefront assets, the practical reading is this: a property can spend a decade wrapped in portfolio debt and still resolve into a clean, single asset bank loan at sale. The complexity in a title chain describes the prior owner's capital structure, not the building's financeability, and the recorded sequence here shows a major bank underwriting through all of it.