Updated Nov 28, 2024
MetLife Investment Management Provides $182M Loan For Office Property In Irvine
17875 Von Karman Avenue, Irvine, CA, USA
$182,000,000
$402/SF
Building Size
452,060 SF
Asset Type
Office
Closing
Jun 15, 2020
About this deal
AI
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.
On the Map
$182,000,000
$402/SF
Office
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Irvine Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93