By Pasadena Weekly Staff

The Swig Company completed the sale of 443 S. Raymond Avenue, a 77,810-square-foot, single-story plus mezzanine historic office property in Downtown Pasadena. The sale includes an adjacent four-story parking garage with space for 225 vehicles.

Since acquiring the building in August 2014, when it was tenanted by Disney Stores USA, The Swig Company has upgraded the landscaping, replaced the roof and renovated the exterior.

In 2019, it retenanted the 100-year-old property, which is now the home of Bluebeam Inc., a cloud-based software partner to the AEC industry. The property was built in the 1920s to house the warehouse and laundry of Pasadena’s Royal Laundry Co.   

It was the company’s second major investment in Pasadena. It still owns 595 E. Colorado, a 96,000-square-foot historic office building in the city’s Playhouse District. The ground floor and mezzanine of that building, which sits on the Rose Parade route, recently became available for lease for the first time in several decades.

Dog Haus adds 8 locations to pipeline

By Pasadena Weekly Staff

Dog Haus’ current franchisees are committing to become multiunit operators and expanding the concept’s footprint in new and existing markets.

Dog Haus is preparing for monumental nationwide expansion as four current franchisees — Manish Patel, Andi and Damon Ott, Nathan Johnson and Faizan Khan — have signed area development agreements to grow their portfolio with the brand in their existing markets of Los Angeles, Phoenix, Bay Area and Washington, D.C., respectively.

Additionally, Frank Zeolla, who operates a Dog Haus in Austin, signed on to introduce the gourmet hot dog, sausage and burger concept to College Station, Texas. The five deals will result in eight new locations, all of which are expected to open in 2022.

“These deals are a direct testament to Dog Haus’ success nationwide and the support we provide to our franchisees,” Dog Haus partner Quasim Riaz said.

“These operators’ restaurants have gained loyal fans that can’t get enough of our gourmet hot dogs, sausages, burgers and one-of-a-kind creations, so they want to capitalize on a new revenue opportunity and expand Dog Haus’ presence in new and existing markets.

“The bulk of our growth right now is coming from franchisees who are already in our system, because we’re a well-established brand that quickly evolves to stay well ahead of industry trends. As a significant number of our franchisees have chosen to sign on as multi-unit operators, there’s no doubt that Dog Haus is poised for incredible growth.”

Pasadena Private Finance closes deal with East West Bank

By Pasadena Weekly Staff

Pasadena Private Finance LLC closed on a $30 million senior credit facility with East West Bank, the largest publicly traded bank headquartered in Southern California, with an expertise in lending to specialty finance companies.

The credit facility has a maturity of three years, is priced at LIBOR/SOFR + 3.25% and allows for up to 65% advance rate on the Pasadena Private Finance loan portfolio.

The credit facility will allow Pasadena Private Finance to increase its portfolio and take advantage of favorable trends in the guaranteed business loan market. As government stimulus programs begin to sunset, there is a strong demand from lower-middle market companies to access creative and flexible credit from responsive nonbank lenders like Pasadena Private Finance.

“We are excited to increase our ability to serve lower-middle market firms with this enhanced credit facility from East West Bank,” said Michael McAdams, Pasadena Private Finance chief executive officer.

“The decades of experience of our team allow us to see ways to make good loans to good firms run by established entrepreneurs.”

Iain Whyte, chairman of Pasadena Private Finance and of Pasadena Private Holdings, its parent, added, “We were fortunate to find in East West Bank a nationally recognized banking partner willing to listen to our unique story and roll up their sleeves, in the same way we do for our own borrowers. The fact that East West Bank is also located in our hometown of Pasadena is a wonderful bonus.”

Andrew Stein, senior managing director and head specialty finance of East West Bank, said, “Over the past several years, we have developed expertise in the specialty finance space, and our portfolio has demonstrated strong double digit growth year in and year out. Our experience allows us to support emerging lenders with strong management teams and unique programs like PPF.”