IN-DEPTH: Lincoln Property sells office complex for $129m
Lincoln Property Co. and partner Angelo, Gordon & Co. have sold Griffin Towers, a class A trophy office complex in Santa Ana, Calif. Here’s an in-depth look of the deal.
The joint venture sold the twin building office project to Equity Office, an affiliate of The Blackstone Group, for $129 million, or $236 per square foot. CBRE represented the seller, and Blackstone was self-represented.
The property sale represents the largest commercial transaction in Orange County so far this year.
A $57.6 million loan was assumed from a $62 million first mortgage financed by the