IRVINE, CA—New York Life Real Estate Investors has acquired 18201 Von Karman, a 229,000 square foot 11-story institutional quality office building located here. The property is situated within Orange County's premier Greater Airport Area submarket which is home to many national and international technology, engineering, media/entertainment, financial services and creative office tenants. The submarket is one of the best performing and most dynamic office markets in Southern California and the property is well positioned to benefit from the area's growth and ongoing momentum.

"The 18201 Von Karman property is a great addition to our West Coast office portfolio and provides us with an excellent opportunity to invest in a top tier asset in Orange County's premier submarket," said Chris Hunt, senior director at New York Life Real Estate Investors. "With several upgrades planned immediately, the property promises to continue to attract top tier tenants from within the Orange County market. We also look forward to working with Greenlaw Partners who will oversee the property."

"Following the upgrades, the project will be well positioned to take advantage of the increasing demand from companies seeking high quality office space in one of the best locations within Orange County," said Wil Smith of Greenlaw Partners.