 |
| Cornerstone Heights Corporate Center, San Diego, CA |
 |
| Jay Marshall |
SAN DIEGO, CA – HFF announced today that it has arranged
$13.77 million in acquisition/bridge financing for Cornerstone Heights
Corporate Center, a two-building office property totaling approximately
97,945 square feet in the Sorrento Mesa submarket of San Diego.
Working exclusively on behalf of a joint venture between Lincoln
Property Company and Artemis Real Estate Partners, HFF placed the three-year,
floating-rate loan with Bank of America.
 |
| Doug Bond |
Cornerstone Heights Corporate Center is located at 5959
and 6059 Cornerstone Court West near Interstate 805 north of downtown San
Diego.
Both buildings were
significantly renovated in 2008 with improvements that included modernizing and
upgrading lobbies, restrooms and showers, as well as installing two new cooling
towers. Ownership recently achieved 90
percent occupancy at the property.
 |
| Aldon Cole |
The
HFF team representing the borrower was led by managing director Aldon Cole
and real estate analyst Kara Mathis along with senior managing directors
Jay Marshall and Doug Bond.
Lincoln Property Company, founded in 1965 by its chairman Mack Pogue,
is a privately held real estate firm involved in real estate investment,
development, property management and leasing worldwide. Lincoln has offices in
all major markets of the U.S. and throughout Europe.
 |
| Penny Pritzker |
Lincoln's cumulative development efforts have produced more than
100 million square feet of commercial space and more than 185,000 multifamily residential
units. Lincoln Property Company is one
of the largest commercial real estate companies in the world.
Artemis Real Estate Partners, LLC is a real estate
investment manager headquartered in the Washington D.C. metropolitan area.
 |
| Deborah Harmon |
Co-founded by Penny Pritzker and Debbie
Harmon in 2009, Artemis seeks to deliver attractive risk-adjusted returns
to investors and manage institutional third party capital in a variety of real
estate strategies, with its co-founders and principals investing significantly
alongside its investors. More information
can be found by visiting www.artemisrep.com.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
No comments:
Post a Comment