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NORWALK, CA-Sonnenblick-Del Rio Government Acquisition Fund I swung the purchase of the 452,000-sf Imperial Norwalk Centre with a $50-million loan from and Pacific Coast Capital Partners. The financing was arranged by Newport Beach-based Buchanan Street Partners.

The seven-story office building at 12440 E. Imperial Hwy. was owned by Transwestern Investment Co. and Starwood Real Estate for five years before its sale for an undisclosed price.

Pacific Coast Capital Partners provided short-term bridge financing and mezzanine debt. The senior loan is interest-only and priced on a floating rate.

The Los Angeles-based investment and development company owned by Robert Sonnenblick and Nelson Del Rio builds for state, county and municipal agencies across the US. Its acquisition is near a courthouse as well as city and county government offices. Occupancy is a healthy 95% with Los Angeles County and the state of California on the tenant roster.

Built in 1984, Imperial Norwalk Centre originally was Southern California headquarters for Bechtel Corp. Brad Sevier and Derek Kam of Buchanan Street Partner’s Los Angeles office arranged the financing. Transwestern’s Scott Word handled negotiations for his company.

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