Muller, Cerberus Recapitalize OC Portfolio
- Oct 25, 2017
A joint venture between The Muller Co., and an affiliate of Cerberus Capital Management LP recapitalized an 841,036-square-foot office portfolio in Orange County. The portfolio includes three buildings, located in Irvine, Orange and Santa Ana.
The assets are:
- Airport Tower
- Orange Executive Tower
- Main Street Town Center
Airport Tower at 18881 Von Karman Ave., in Irvine, is a 17-story, 237,659-square foot Class A high-rise office building. The property is also LEED Silver Certified. Located at 1100 Town and Country Road, Orange Executive Tower is a 16-story, 388,374-square-foot Class A energy-efficient high-rise in Orange. The 10-story Santa Monica asset, Main Street Town Center, situated at 2677 N. Main St., comprises 215,003 square feet and it is rated as a Class A, energy-efficient office building.
“We are excited to partner with The Muller Company, a best in-class owner and operator, and look forward to jointly adding value to this portfolio,” said Tom Wagner, co-head of North American Real Estate and senior managing director of Cerberus Real Estate Capital Management.
Earlier this year, The Muller Co. and Harbert Management Corp. have teamed up to redevelop a 215,000-square-foot office campus in Phoenix.
Images courtesy of The Muller Company