Bolour Associates Closes $12.5M Senior Bridge Loan for Vacant Venice Boardwalk Mixed-Use Acquisition

Bolour Associates has closed a $12.5 million senior bridge loan to finance the acquisition of a fully vacant, mixed-use beachfront property on the Venice Beach Boardwalk in Venice, California, the firm announced Sept. 17.

The loan carries a 12-month initial term with a six-month extension option, bringing the maximum loan duration to 18 months. The structure includes a funded interest reserve and a carry-cost holdback, mechanisms designed to cover debt service and holding costs while the sponsor pursues lease-up or repositioning of the asset.

Property and Deal Overview

The subject property is a mixed-use building situated directly on Ocean Front Walk in Venice, comprising approximately 11,025 square feet of improvements on an approximately 8,616-square-foot lot. The building offers creative retail, studio, and office spaces and features roughly 169 feet of frontage on the boardwalk, one of Southern California's highest-traffic pedestrian corridors. The property is zoned LA-C1, permitting storefront retail, office, and residential uses. Secured surface parking is available at an adjacent parcel.

The asset was delivered fully vacant, giving the acquiring sponsor full control of the building to execute a comprehensive repositioning strategy. Los Angeles County assessment records associated with the property reflect an improvements assessment of approximately $5.2 million and a land assessment of approximately $15.9 million, for a total assessed value of roughly $21.1 million — materially above the $12.5 million loan amount.

Lender's Underwriting Approach

Bolour Associates CEO Mark Bolour described the transaction in terms of the firm's broader credit philosophy.

"When an experienced Sponsor reached out for capital to acquire vacant — though irreplaceable — mixed-use beachfront real estate, BOLOUR responded with a $12.5 million senior bridge loan. Supported by a funded interest reserve and carry-cost holdback, this structure supports the next chapter for a prized Venice Beach property. BOLOUR's capital can bring certainty to your long-term business plan, even when tenancy and income are in flux."

The firm has characterized its underwriting framework as one that weighs location, sponsorship, and basis alongside financial metrics — a posture that positions it to lend on transitional assets where conventional lenders have reduced exposure. The Venice deal reflects that approach: a senior loan against a vacant asset in a high-profile coastal location, underwritten in part on the strength of the site's irreplaceability and the sponsor's experience.

Market Context: Private Bridge Lending Fills a Gap

The transaction comes as higher interest rates and tighter bank underwriting standards have left vacant and transitional commercial properties increasingly reliant on non-bank, private bridge lenders to transact. Mixed-use assets with no in-place income — particularly those requiring repositioning — have been among the hardest to finance through conventional channels, creating demand for lenders willing to structure around business-plan risk rather than current cash flow.

Venice Beach Boardwalk remains a high-demand location for experiential retail and tourism-oriented uses, though occupancies across the corridor have been volatile in recent years as operators reassess traditional retail formats in favor of food and beverage, entertainment, and creative office concepts. A fully vacant building allows a sponsor to re-tenant on its own timeline and target higher-margin uses without navigating existing lease obligations.

Bolour Associates operates a lending platform active across 18 markets in the United States. The firm reports seeing approximately $20 billion in annual deal flow on the debt side.

Firm Contact and Lending Platform

Bolour Associates offers bridge lending across a range of property types and markets. Inquiries can be directed to Jason Huang at 323.677.0550 x121 or lending@bolourassociates.com.