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California  + San Diego  + Office  | 

$34M Financing Helps Complete 1031 Exchange

Newport Beach, CA-based MetroGroup Realty Finance secured $34.3 million in acquisition financing on behalf of Klein Investment Family LP for a four-building office/flex campus buy in San Diego. The 132,695-square-foot, Kearney Mesa submarket property completed a 1031 exchange.

MetroGroup’s financing approach included combining a $7-million bridge loan and a $27.3-million permanent loan. The permanent financing was for a 7-year term, amortized over 25 years. The bridge loan was interest only, floating over LIBOR for a term of one year.

“The bridge loan will provide temporary liquidity in anticipation of their selling an existing property,” said MetroGroup’s Patrick Ward. “Proceeds from the sale of their existing property will retire the bridge loan and complete the reverse exchange.”

The 100%-leased property, occupied by aerospace and defense contractor Cobham Advanced Electronic Solutions, is at 9404 Chesapeake Dr., and 5775, 5785 and 5788 Roscoe Ct.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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