IRVINE, CA—On behalf of The Koll Company,CBRE Capital Markets' Debt & StructuredFinance team has arranged $158 million infinancing for Airport Business Center, anoffice/flex industrial park in Irvine.
Brookfield Asset Management provided thefive-year, fixed-rate, full-term interest-only loan which carriesan all-in interest rate in the low 5% range. The new loan willrefinance an existing loan held by two life insurance companies,which had an outstanding balance at closing of approximately $154.4million.
The loan was facilitated by Brian Halpern andBen Wagner of CBRE's Los Angeles office, andSharon Kline, Marina Massari, and JasonRitchie of CBRE's Newport Beach office. TimMitchell and Kris Barber ofChatham Financial's Denver office providedinterest rate strategy advice to Koll.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
