DivcoWest has received a $40 million acquisition loan arranged by JLL Capital Markets for Northridge Summit, a 129,916-square-foot office building in Scripps Ranch.
JLL worked on behalf of DivcoWest to secure a three-year, floating-rate loan.
Completed in 2000, Northridge Summit is fully leased to a technology tenant. The three-story building has 43,300-square-foot floorplates and subterranean and surface parking.
JLL’s Capital Markets Debt Advisory team was led by Senior Managing Directors Chris Collins and Aldon Cole and Managing Director Alex Witt.
DivcoWest bought the building in April from Davlyn Investments for $76.1 million, according to JLL.
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DivcoWest Gets $40M Acquisition Loan for Northridge Summit
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