SAN DIEGO—CBRE Capital Markets' debt and structured finance team has originated $89.9 million in financing for Brookwood Financial Partners' acquisition of a 484,573-square-foot portfolio of office properties located in San Diego County.
Charles Foschini, Christian Lee and Christopher Apone of CBRE's Miami office arranged the financing on behalf of Brookwood Financial, of Beverly, MA. Blackstone provided the two-year, interest-only loan at a floating rate over LIBOR.
“Brookwood and Blackstone closed a loan in 2014 and have an excellent working relationship,” said Foschini. “Given the nature of the sale, Brookwood had to select a partner that would move in lockstep with the equity and execute a path to close in a very tight time frame on a value-add asset pool that investors were aggressively competing for. Blackstone worked around the clock to provide an exceptional lending experience and close a loan with market-leading terms and speed.”
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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.
