$46MM JV-Equity – Acquisition and Light Rehab of Class-A Office Park
“Full stack” capitalization request for acquisition and creative office renovation of 204,000 SF Class-A Office Campus located in San Diego, CA (Sorrento Mesa).
- Property located in secondary location within the San Diego market
- 88% leased to a desirable tenant mix at acquisition
- Gradual turn to creative office as tenant leases rolled
Dekel Capital identified numerous institutional JV-Equity funds that were familiar with the submarket and product type. Dekel came to agreement with a well-known fund and quickly confirmed investment committee approval.