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3/03/15
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Brookwood Financial Partners, out of Beverly, MA, purchased the Newport National Portfolio, consisting of three office properties totaling 484.6k sf located in San Diego County. The transaction was financed with $89.9 mil in acquisition money.
Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Capital Markets’ Debt & Structured Finance team, out of Miami, FL, arranged the financing. Blackstone provided the two-year, interest-only loan at a floating rate over LIBOR.
The Newport National Portfolio is a collection of three Class A and Class B properties encompassing seven buildings. The properties are:
• Civic View Corporate Centre, 300 Rancheros Blvd, San Marcos
• Ventana Real, 2173, 2175 and 2177 Salk Ave, Carlsbad
• The Campus, 5962, 5964, and 5966 La Place Court, Carlsbad
The properties are designed with a contemporary architectural aesthetic, flexible floor plates, extensive landscaping and numerous on-site amenities. They also offer convenient access to local freeways, prominent corporations and executive housing.
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