Construction Loan of $142M Sealed for FLIGHT

Renderings of FLIGHT shows how it is a hangar-inspired property with a collaborative feel.

TUSTIN, CA—A partnership between Lincoln Property Co. and Alcion Ventures has gained financing for construction of the first phase of the 470,000-square-foot creative-office campus here called FLIGHT, which aims to be a one-of-a-kind working and dining experience. HFF worked on behalf of the development partnership to place the three-year construction loan with ACORE Capital and iStar Inc. for $141.6 million.

FLIGHT is the first office development within the 1,600-acre site of the former Marine Corps Air Station Tustin, and it aims to cement the Tustin Legacy master-planned development as a true “live/work/play” community. Designed with unique, hangar-inspired architecture, FLIGHT’s goal is to provide an inspiring, one-of-a-kind working and dining experience. Amenities will include a 12,000-square-foot food hall, which will feature an array of unique, chef-driven dining concepts, and a 7,000-square-foot conference center, which will serve an untapped need for collaborative space that can be utilized by tenants or third parties. Both were designed to serve as a draw to tenants to increasingly desire a broad base of walkable, convenient community amenities.