$91 Million Loan Secured On 7 North County 'Amenity-Rich' Properties

San Diego CA

17 June, 2021

3:20 PM

Description

By Editor, Times of San Diego June 17, 2021 Financing has been secured for a collection of seven office properties within three campus settings in North County. The lender, Värde Partners, an alternative investor based in Minnesota, provided a $91 million, floating-rate loan with a four-year term. CBRE arranged the financing of the Brookwood North San Diego Portfolio on behalf of Brookwood Financial Partners, out of Massachusetts. CBRE's Capital Markets team, Amy Julian, Christian Lee and José Lobón, handled the deal. The portfolio totals approximately 485,000 square-feet and features contemporary architecture, flexible floor plates, extensive landscaping and numerous on-site amenities. Since acquiring the assets in 2015, Brookwood has invested more than $10 million in capital improvements on the properties, which include Carlsbad and San Marcos sites. "The project's amenity-rich campus settings, with exceptional access to freeways and executive housing, has contributed to strong leasing momentum across the portfolio," Julian said. Times of San Diego is an independent online news site covering the San Diego metropolitan area. Our journalists report on politics, crime, business, sports, education, arts, the military and everyday life in San Diego. No subscription is required, and you can sign up for a free daily newsletter with a summary of the latest news.