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HPA Acquires Brea Office/Medical Campus for $80M, JLL Arranges Deal

HPA Acquires Brea Office/Medical Campus for $80M

JLL Capital Markets has completed the $80 million sale of Imperial Mariner, a four-building office/medical campus totaling 288,000-square-feet in Brea, CA. Healthcare Property Advisors (HPA) purchased the asset from Adelfi Credit Union, and JLL also arranged $44 million in acquisition financing for the buyer through Farmers & Merchants Bank.

“HPA was drawn to Imperial Mariner as an attractive investment through their pursuit of well-performing office assets that have alternative uses and future redevelopment potential,” said JLL’s Blake Bokosky, part of the team representing Adelfi that included John Chun, Louis Tomaselli and John Andreasan. “New ownership will have the potential to further the medical occupancy or redevelop the site to industrial product as a downside scenario.”

Imperial Mariner’s four buildings are currently 89% leased to a diverse tenant roster including St. Jude Heritage Medical Group, NCH Management and Adelfi which will continue to occupy part of the campus under a short-term leaseback.

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Inside The Story

HPAAdelfi Credit UnionFarmers & Merchants BankJLL's Blake Bokosky

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
  • ◦Financing
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