Press Releases

Go Back
31-Jan-2018

Koll Secures $170M Financing for Irvine Business Park

CBRE arranged $170 million in financing on behalf of The Koll Company for Airport Business Center, a 1.2-million-square-foot office/flex industrial park in Irvine, CA. The loan was split into a $150-million senior loan awarded to Wells Fargo, and a $20-million mezzanine loan originated by a real estate debt fund controlled by Brookfield.

The loan’s 10-year term carries an all-in fixed interest rate in the mid-4% range. It will refinance a loan originated by CBRE and The Koll Company in October 2014 with Brookfield and Morgan Stanley.

Sharon Kline and Marina Massari, with CBRE’s Capital Markets Debt and Structured Finance team, facilitated the loan for a 75-acre campus that includes 68 buildings and 509 units. The refinancing allows Koll to eliminate the near-term risk of a refinance in 2019, secure long term debt while rates are at historically low levels, reduce debt service and increase cash flow.

© The Koll Company