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:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
