IRVINE, CA—HFF has arranged $28 million in joint venture equity for 18301 Von Karman, an 11-story, 225,992-square-foot, class A office building in Irvine.
HFF worked on behalf of the client, Greenlaw Partners, to secure the joint venture equity through Cigna Investments in an off-market recapitalization. The equity proceeds are being used to acquire the ownership interests of Greenlaw’s previous venture partners. HFF also advised the new partnership on the senior loan.
The property is located on 0.75 acres and is part of the Von Karman Towers office campus. Designed by Gensler and developed in 1989 by the Koll Company, 18301 Von Karman won BOMA‘s Building of the Year Award (regional) in 1998. The property is 86% leased to a diverse mixture of tenants.
The HFF team representing Greenlaw Partners was led by managing director Todd Sugimoto and associate director Jeff Sause.
Greenlaw Partners, LLC is an Orange County-based real estate investment, management and development company.