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October 31, 2018 Comments Off on $20M Recapitalization for Irvine’s Jamboree Promenade Views: 4161 California News, Orange County

$20M Recapitalization for Irvine’s Jamboree Promenade

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CBRE arranged $20 million in debt financing for the recent acquisition of Jamboree Promenade in Irvine, CA. The borrower was Pole Capital USA, the U.S. division of a Singaporean real estate investment company. The property was purchased earlier for $42.5 million in an all-cash deal, and this debt financing was intended to recapitalize the site.

CBRE’s Shaun Moothart, Bruce Francis, Dana Summers, Bob Ybarra and Doug Birrell arranged the seven-year loan for the borrower.

“Jamboree Promenade sits in an irreplaceable location within the airport area along the Jamboree Road corridor, which enabled us to attract debt capital from across the lending spectrum,” said Moothart.

Located at 2626-2646 Dupont Dr., the 56,878-square foot shopping center is 97% occupied and anchored by CorePower Yoga, The Melting Pot and Daily Grill. The property sits just off the I-405 freeway. and directly across the street from Trammell Crow’s nine-story, 545,000 square-foot Class A office building.

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