Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TUSTIN, CA-Los Angeles-based pension fund adviser Charles Dunn Equities secured a $7.08 million fixed-rate loan for the purchase of the Toshiba Building at 2441 Michelle Drive from Voit Development Co. of Woodland Hills, Calif.

The loan is for 10 years at 6% at a debt coverage ratio of more than 1.4, according to Amos Smith of the Irvine office of Johnson Capital, who arranged the financing.

The Toshiba Building is a single tenant, 117,805-sf freestanding industrial/R&D building that has served as the corporate headquarters for Toshiba America Medical Systems for the past 15 years. The single-story, concrete tilt-up building was constructed in 1987. It was the last of 24 industrial properties in a portfolio that Voit bought from Fujita Corp. two years ago and has since sold.

Johnson Capital is a real estate advisory firm specializing in senior debt, structured debt, bridge capital, mezzanine debt and joint venture equity.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.