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
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.
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