Donald Bren Of Irvine Company Secures $157.2 Million Refinance Loan For 309-Unit Playa Vista Property

The asset involved in this transaction is a multifamily property known as Villas at Playa Vista – Montecito, which comprises 309 luxury apartment units. The property is located at 12855 Runway Road in Playa Vista, California, a master-planned community that features a mix of residential, office, and retail developments. The property was built in 2016 and has undergone refinancing with a loan amount of $157,200,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $157,200,000
• Address: 12855 Runway Road
• Market: Playa Vista, CA
• Units: 309
• Lender: Capital One
• Landlord: Donald Bren - Irvine Company
• Loan Type: Refinance

In this transaction, Irvine Company, represented by Donald Bren, secured the refinancing loan from Capital One, replacing a previous $136 million Fannie Mae loan from PGIM. This refinancing emphasizes the company's management and investment strategy within the multifamily segment.