Waterfall Asset Management and Delaware Life Complete Refinancing of The Torrance in Southern California

NEW YORK, Sept. 3, 2026 /PRNewswire/ -- Waterfall Asset Management ("Waterfall"), an alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans and real assets, and Delaware Life today announced the closing of a $64.7 million loan facility, refinancing The Torrance, a 301,000-square-foot Class A office property located in Torrance, California.

The Torrance is an eight-story office property situated on approximately 7.3 acres. The property is currently leased to a diverse roster of tenants, including All Nippon Airways, Salon Republic, Barrister Executive Suites, Compass California, Unio Health Partners and Morgan Stanley Smith Barney.

The financing provided by Waterfall managed accounts and Delaware Life will support the in-place leasing strategy for the property, which is focused on securing long-term tenant renewals and leasing available space.

"The Torrance is a high-quality asset with strong occupancy, a diversified tenant base and a differentiated position within the South Bay office market," said Zachary Liebmann, Head of Commercial Real Estate at Waterfall Asset Management. "We are pleased to work alongside Delaware Life to provide a flexible financing solution and support the continued business plan for the property. We believe the transaction reflects our ability to structure capital solutions for experienced real estate owners and identify compelling opportunities where strong asset fundamentals can drive long-term value."

Originally constructed in 1988, The Torrance has benefited from significant investment and modernization, including recent upgrades to the building's elevator and HVAC systems, common areas, roof, amenities and exterior. The property also features a two-story glass-entry lobby, ground-floor café, fitness center and more than 1,200 parking spaces.

The property is centrally located in Torrance between West Los Angeles and Orange County and benefits from its proximity to Manhattan Beach, Palos Verdes and other coastal communities. The Torrance is adjacent to the Del Amo Fashion Center and serves a diverse tenant base within the broader South Bay market, which is home to a range of corporate, healthcare, aerospace and defense-related employers.

The Newmark Global Debt & Structured Finance team of Jordan Roeschlaub, Nick Scribani and Chris Lozinak assisted in securing the financing of The Torrance.

About Waterfall Asset Management, LLC
Waterfall Asset Management is an alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, and real assets. Founded in 2005, the firm utilizes a relative value approach for sourcing and investing in the private and public markets, across 60+ sectors of the asset-based finance arena. Through this multi-sector specialization, Waterfall seeks to provide its clients a compelling risk/return profile which is generally uncorrelated to most traditional investment opportunities. Waterfall is also the external manager to Ready Capital Corporation (NYSE: RC), a multi-strategy real estate finance company and small business lender. Waterfall is headquartered in New York City, with additional offices in London and Dublin. As of March 31, 2026, Waterfall had approximately $12.1 billion in assets under management. To learn more, please visit www.waterfallam.com.

About Group 1001 
Group 1001 Insurance Holdings, LLC ("Group 1001 Insurance" or "Group 1001") is a collective that empowers companies to create positive growth. Our insurance and annuities are easy to understand and accessible to all. Our online investing platform gives individuals control over their savings. Our technology and innovation help companies succeed. And our strategic partnerships bring people together through education and sports. 

As of March 31, 2026, Group 1001 Insurance had more than 1,500 employees and combined assets under management of $86.1 billion and provides over 540,000 active annuity contracts and life insurance policies. It comprises the following brands: Delaware Life, Gainbridge^SM, Clear Spring Life and Annuity Company, Clear Spring Property and Casualty Group, and the RVI Group, among others.

About Delaware Life Insurance Company
Founded in 2013, Delaware Life Insurance Company ("Delaware Life") is a subsidiary of Group 1001 and currently provides over 370,000 active annuity and life insurance policies. Delaware Life's multi-asset investment management strategy spans the corporate, asset-backed and real estate sectors, with an emphasis on private, direct origination.

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SOURCE Waterfall Asset Management