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Cigna, Cruzan JV Secures $56M Refi for Laguna Hills Creative Office Campus
A joint venture between Cigna Investments Management and Solana Beach, CA-based Cruzan secured a $55.9-million loan for the refinance of HERE, a five-building, 223,974 square-foot office campus in Laguna Hills, CA. The multi-tenant office complex is located at 23332, 23382, 23422 Mill Creek Dr., and 24411 & 24461 Ridge Route Dr.
Originally built in 1988-89, the borrower purchased the 16-acre property in 2015 and has invested more than $13 million in capital and tenant improvements into the asset.
That has resulted in a transformation from traditional office space into a creative office campus. Updates include a state-of-the-art fitness center with resort-style showers and lockers, an onsite café operated by Steelhead Coffee, a conference center, and an open-air tenant lounge.
CBRE’s Mark McGovern, Scott Peterson, Morgon Fraser and Brian Cruz arranged the two-year, floating rate loan through ARES.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


