Newport Real Estate Partners Acquires Fullerton Brea Business Park From BKM For $28.8M

The property involved in this transaction is located at 4010-4080 North Palm Street in Fullerton, emphasizing its industrial asset characteristics. The sale price for this property was $28,800,000, with a total square footage of 111,000 and a price per square foot of $259.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $28,800,000
• Buyer: Newport Real Estate Partners
• Seller: Brian Malliet - BKM
• Lender: Voya Investment Management
• Mortgage Brokers: Andy Bratt, Peter Welsh & Sean Kuang - Gantry

This transaction was marked by Newport Real Estate Partners acquiring the Fullerton Brea Business Park from BKM, who previously held ownership since 2018. Following the purchase, Gantry facilitated a loan of $15.5 million from Voya Investment Management, providing Newport with financial flexibility for their future investment strategies.