IRVINE, CA—On behalf of The Koll Company, CBRE Capital Markets' Debt & Structured Finance team has arranged $158 million in financing for Airport Business Center, an office/flex industrial park in Irvine.
Brookfield Asset Management provided the five-year, fixed-rate, full-term interest-only loan which carries an all-in interest rate in the low 5% range. The new loan will refinance an existing loan held by two life insurance companies, which had an outstanding balance at closing of approximately $154.4 million.
The loan was facilitated by Brian Halpern and Ben Wagner of CBRE's Los Angeles office, and Sharon Kline, Marina Massari, and Jason Ritchie of CBRE's Newport Beach office. Tim Mitchell and Kris Barber of Chatham Financial's Denver office provided interest rate strategy advice to Koll.
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