IRVINE, CA—Financing for a $100 million deal GlobeSt reported on last week—the acquisition of Quintana Office Campus—was financed with arrangements made by New York Life Real Estate Investors.

The floating rate debt package has a total available term of five years and will finance the acquisition, redevelopment and re-tenanting of the property. Holiday Fenoglio Fowler (HFF) worked on behalf of Hines, which acquired the asset in August 6.

Quintana is prominently situated in a high profile location at the intersection of Main Street and Von Karman Avenue in the heart of the Irvine Business Complex. One of the four buildings that comprise the campus is currently 100% leased to StrataCare, a wholly-owned subsidiary of Xerox Corporation. The remaining three buildings are vacant. Each of these buildings are institutional-quality, steel-framed, four and five story buildings in the core Airport Area submarket of Orange County. Quintana, a 421,935-square-foot, modern class A campus, represents the largest block of contiguous office space currently available for a large user in Orange County and the only remaining big block in the Airport Area.

“This financing was a creative solution for a strong sponsor, secured by a solid office property in a rapidly improving market. We were very pleased to work with the HFF and Hines,” said Kirk Kniss, New York Life Real Estate Investors senior director who manages the San Francisco regional office.

Instant Insights /

New York Life Financed Sale of Quintana Campus to Hines

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