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%

$85,000,000 Total Purchase Price
221,668 square feet Total Rentable Area
Class A Building Class