August 15, 2016
NGKF Capital Markets completed the $108.5-million recapitalization of three high-quality Class A multi-tenant office buildings located in Orange, CA. It is the first sale above the $100 million mark so far this year.
The transaction includes 600 City Parkway West, a 199,075-square-foot building, 3800 Chapman, a 169,851-square-foot building, and 500 City Parkway, a 70,320-square-foot building.
Irvine, CA-based Greenlaw Partners and Chicago-based Walton Street Capital purchased the buildings separately in 2014 and 2015. Subsequently, full occupancy was achieved on all three buildings, as well as securing entitlements for two multifamily development projects.
NGKF Capital Markets’ Kevin Shannon, Paul Jones and Ken White represented the existing Greenlaw Partners and Walton Street partnership.
An institutional advisor recapitalized the partnership and will retain Greenlaw Partners as operating partner.
For comments, questions or concerns, please contact Dennis Kaiser