MetLife Investment Management Provides $182M Loan For Office Property In Irvine
FINANCED
$182,000,000
California
See Similar DealsOffice452,060 SF
Financed 06/16/2020
FINANCED
MetLife Investment Management Provides $182M Loan For Office Property In Irvine
17875 Von Karman Avenue, Irvine, CA, USA
See Similar DealsOffice452,060 SF
Financed 06/16/2020
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$402
Total Square Footage:452,060 SF
Transaction Type:Loan
An office property in Irvine, located at 17875 & 17877 Von Karman Ave, 17872 & 17838 Gillette Ave, was involved in a closed transaction. The property spans a total of 452,060 square feet and is owned by Hines.
Summary of transation details
- Property Type: Office
- Transaction Amount: $182,000,000
- Loan Terms: Three-year, interest-only
The lender for this transaction was MetLife Investment Management. Kevin MacKenzie, John Chun, and Nick Lench from JLL Capital Markets represented the borrower in the deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$182,000,000.00
Monthly NOI$1,213,333.33
Monthly Debt Service$1,150,363.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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