MetLife Investment Management Acquires Office Portfolio In Irvine For $235.3M

A four-property office complex in Irvine, CA has been sold for a total of $235,250,000. The properties, located at 17877, 17875 Von Karman Avenue, 17838 & 17872 Gillette Avenue, span a total of 453,975 square feet with an average price per square foot of $518. The sale of these assets was orchestrated by Hines, who did an excellent job in positioning the best-in-class creative office campus for the ultimate exit.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $235,250,000
• Financing Price: $117,625,000
• Square Footage: 453,975
• Address: 17877, 17875 Von Karman Avenue, 17838 & 17872 Gillette Avenue, Irvine, CA
• Market: Airport Area

MetLife Investment Management emerged as the buyer in this transaction, while JLL acted as the broker representing both the buyer and the seller. The deal was financed by Allianz Real Estate, who provided optimal terms for the acquisition. The involvement of these key individuals and companies played a crucial role in the successful sale of the office complex.

In conclusion, the four-property office complex in Irvine, CA has been sold for a significant amount, thanks to the expertise of Hines in positioning the assets for a successful exit. MetLife Investment Management emerged as the buyer, with JLL acting as the broker and Allianz Real Estate facilitating the financing.