18301 Von Karman
18301 Von Karman Avenue, Irvine, CA 92612
Property Overview
This investment represents a first mortgage with a par value of $76.0 million and a mezzanine loan with a par value of $9.0 million, both purchased at a discount. The first mortgage is collateralized by 18301 Von Karman Avenue, an 11-story Class-A office building located in Irvine, California. The mezzanine loan is collateralized by 100% membership interest in the borrower. The property was built in 1989 and contains a net rentable area of 221,668 square feet.
Investment at a Glance
Location: Irvine, CA
Property Type: Class A Office
Investment Type: First Mortgage and Mezzanine Loan
Acquisition Date: June 12, 2008
Total Loan Amount: $85,000,000
Loan Term: 108 months
No. of Buildings: 1
No. of Stories: 11
Square Footage: 221,668 SF
Year Built: 1989
Leased Percentage (at the time of Acquisition): 87.6%
