Financing has been secured for a group of seven workplace properties inside three campus settings in North County.
The lender, Värde Companions, another investor primarily based in Minnesota, offered a $91 million, floating-rate mortgage with a four-year time period.
CBRE organized the financing of the Brookwood North San Diego Portfolio on behalf of Brookwood Monetary Companions, out of Massachusetts. CBRE’s Capital Markets crew, Amy Julian, Christian Lee and José Lobón, dealt with the deal.
The portfolio totals roughly 485,000 square-feet and options modern structure, versatile ground plates, intensive landscaping and quite a few on-site facilities.
Since buying the property in 2015, Brookwood has invested greater than $10 million in capital enhancements on the properties, which embrace Carlsbad and San Marcos websites.
“The challenge’s amenity-rich campus settings, with distinctive entry to freeways and govt housing, has contributed to robust leasing momentum throughout the portfolio,” Julian mentioned.