HFF Closes Sale of and Arranges Financing for Quintana Office Campus in Orange County, California

IRVINE, Calif.--()--Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged financing for Quintana Office Campus, a four-building, 430,000-square-foot, Class A office complex in Irvine, California.

HFF’s capital markets team led marketing of the asset, and was assisted by Cushman & Wakefield, on behalf of Menlo Equities. Hines purchased Quintana Office Campus for an undisclosed amount. Additionally, HFF arranged acquisition financing for the buyer with a total funding of approximately $100 million from New York Life Real Estate Investors, on behalf of institutional investors.

Quintana Office Campus consists of 17875 and 17877 Von Karman Avenue and 17838 and 17872 Gillette Avenue as well as a one-acre interior park/open space all located on approximately 15 acres in the Irvine Business District. The property has immediate access to the San Diego (I-405) and Newport Beach/Costa Mesa (SR-55) Freeways and is less than one half of a mile from John Wayne Airport. Built between 1989 and 2004, Quintana Office Campus is currently 13 percent occupied providing significant value creation potential as well as complete flexibility on a repositioning strategy.

Hines has planned an extensive $15 million capital improvement program, which will transform the asset into the most unique and differentiated campus environment in the Airport submarket. The strategic capital upgrades will focus on improving the expansive open spaces and common areas to include new conference and fitness center amenities, functional outdoor workspaces, new lobbies and restrooms, upgraded landscaping and potential retail offerings.

The HFF investment sales team representing the seller was led by senior managing directors Ryan Gallagher and Michael Leggett, managing director Mike McCann and associate director Derreck Barker.

HFF’s debt placement team was led by senior managing director Kevin MacKenzie.

The Cushman and Wakefield team was represented by executive director Jeff Cole and Ed Hernandez.

About Menlo Equities

Founded in 1994 by Henry Bullock and Rick Holmstrom and headquartered in Palo Alto, California, Menlo Equities is a vertically integrated commercial real estate company engaged in the acquisition, development and operation of properties in select technology markets in the western United States. Since its founding, Menlo Equities has acquired or developed over three billion in assets in over 100 separate transactions. Learn more at www.menloequities.com.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with locations in 185 cities in 19 countries. Hines has $84.9 billion of assets under management, including $42.7 billion for which Hines provides fiduciary investment management services, and $42.2 billion for which Hines provides third-party property-level services. In 2014, Hines completed over $8 billion in transactions on behalf of its investment management clients. The firm has 104 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired more than 1,000 properties, totaling over 339 million square feet. The firm’s current property and asset management portfolio includes 511 properties, representing over 176 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.

About HFF

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

Contacts

HFF
Ryan Gallagher, (949) 253-8800
CA Lic. #01269918
HFF Senior Managing Director
rgallagher@hfflp.com
or
Kevin MacKenzie, (949) 253-8800
CA Lic. #01898953
HFF Senior Managing Director
kmackenzie@hfflp.com
or
Kristen Murphy, (617) 338-0990
HFF Associate Director, Marketing
krmurphy@hfflp.com

Release Summary

HFF announced today that it has closed the sale of and arranged financing for Quintana Office Campus, a four-building, 430,000-square-foot, Class A office complex in Irvine, CA.

Contacts

HFF
Ryan Gallagher, (949) 253-8800
CA Lic. #01269918
HFF Senior Managing Director
rgallagher@hfflp.com
or
Kevin MacKenzie, (949) 253-8800
CA Lic. #01898953
HFF Senior Managing Director
kmackenzie@hfflp.com
or
Kristen Murphy, (617) 338-0990
HFF Associate Director, Marketing
krmurphy@hfflp.com