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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.

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