$75,000,000 Construction Financing Secured for Mixed-Use Property in Santa Monica, CA
May 1, 2026 Life Company
Deal Summary
Pacific Life Insurance Company provided a $75 million construction loan secured by an assemblage at 2025 and 2033 Wilshire Boulevard and 1152 21st Street in Santa Monica, according to public records. The borrower is US 2025 Wilshire Owner LLC, with David Regan signing as member.
The financing was recorded the same day as a companion $95 million Pacific Life construction loan on a related Wilshire Boulevard assemblage two blocks east, held by an affiliated borrower entity. The parcels are currently improved with older retail buildings and surface parking.
Two construction loans from one life company to related sponsors on the same day is a portfolio level commitment to mid Wilshire Santa Monica, and a reminder that the largest development stories in supply constrained submarkets are often assembled quietly, parcel by parcel, before any rendering goes public.
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Market Notes
Sponsors running multi phase or multi site development programs can often achieve better economics by presenting the program to lenders as a relationship rather than financing each site in isolation. Life companies in particular value repeat sponsor relationships and will sharpen terms across a program.
Transaction Details
- Closing Date
- May 1, 2026
- Loan Amount
- $75,000,000
- Loan Type
- Life Company
- Loan Purpose
- Construction
- Capital Type
- Senior Debt
- Asset Type
- Mixed-Use
- Source
- Public records
Property
- Property Name
- 2025 Wilshire Blvd Assemblage
- Address
- 2025 & 2033 Wilshire Blvd; 1152 21st St
- 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.