HFF has provided HPA Growth Fund and Healthcare Property Advisors with $42.34 million in acquisition financing for Brea Imperial Center, a two-building medical office/office complex totaling 194,312 square feet in Brea, California.
Brea Imperial Center comprises 2727 and 2767 East Imperial Highway and is located in the North Orange County submarket, one of the strongest office markets in Orange County. The building at 2727 East Imperial Highway has 104,662 square feet and is fully occupied by Goodrich, a subsidiary of United Technologies Corporation. The building at 2767 East Imperial Highway is an 89,650-square-foot building that is 100 percent leased to St. Jude Medical Center. The two-story buildings were renovated in 2000 and feature parking for 775 vehicles on a 10.48-acre site.
The HFF debt placement team representing the borrower included senior directors John Chun and Zack Holderman, who worked on behalf of the borrower and its representative to secure the two-year, floating-rate loan via debt fund capital.