{"id":1004126451,"date":"2015-08-31T07:37:37","date_gmt":"2015-08-31T15:37:37","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=359673"},"modified":"2020-05-18T04:32:29","modified_gmt":"2020-05-18T12:32:29","slug":"transwestern-facilitates-office-asset-redevelopment-into-creative-space","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/","title":{"rendered":"Transwestern Facilitates Office Asset Redevelopment into Creative Space"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

Transwestern<\/a> has arranged equity and debt financing for the acquisition and repositioning of a flex research and development facility in Tustin, Calif.<\/p>\n

\"14201<\/a><\/p>\n

14201 Franklin Ave. in Tustin, California<\/p>\n<\/div>\n

The redevelopment of the 39,762-square-foot property at 14201 Franklin Ave. is scheduled for completion in early 2016.<\/p>\n

Transwestern\u2019s Robert Murphy, Gary Limjuco and Steven Orchard organized the financing on behalf of Harbor Associates LLC.<\/p>\n

Transwestern sourced equity from a new discretionary fund representing several private investors. The non-recourse debt included a 60 percent loan-to-value ratio, a 3.5 percent interest-only rate and a four-year term. The financing structure exploits shifting dynamics to create above-market returns with a stabilized 8.3 percent yield on cost.<\/p>\n

\u201cHarbor saw potential in this asset that others missed because it requires a significant amount of due diligence,\u201d said Murphy. \u201cHarbor focuses on mid-sized, Class B or better office repositioning opportunities in Southern California, and this asset presented an attractive opportunity at a favorable price.\u201d<\/p>\n

The two-story building spreads across 2.3 acres, half of which is vacant land that will be converted into outdoor amenities and additional parking. Other improvements will include a new lobby, atriums, natural lighting, polished concrete floors and 14-foot exposed wood ceilings. The office redesign will cater to tenants seeking creative spaces, which are in high demand in Orange County.<\/p>\n

\u201cThere is a significant supply and demand imbalance for creative space in Orange County, and owners of creative projects have seen incredible success, achieving rental premiums of 20 percent above traditional office rents,\u201d Justin Loiacono, principal at Harbor Associates said in prepared remarks. \u201cThe Transwestern team presented us with a variety of capital solutions from both institutions and family offices, ultimately sourcing a partner that believed in our new platform and business plan for this asset.\u201d<\/p>\n

Located within 1 mile of Interstate 5, the 261 Toll Road and Jamboree Road, the facility provides easy access throughout Orange County and Southern California. Tustin Marketplace, a 1.6 million-square-foot outdoor shopping mall, and the 1 million-square-foot District at Tustin Legacy shopping mall are also situated in the property\u2019s proximity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Transwestern has arranged equity and debt financing for the acquisition and repositioning of a flex research and development facility in Tustin, Calif.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004126451","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"\nTranswestern Facilitates Office Asset Redevelopment into Creative Space - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Transwestern Facilitates Office Asset Redevelopment into Creative Space\" \/>\n<meta property=\"og:description\" content=\"Transwestern has arranged equity and debt financing for the acquisition and repositioning of a flex research and development facility in Tustin, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-31T15:37:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T12:32:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/14201-Franklin-Ave.-in-Tustin-California.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Transwestern Facilitates Office Asset Redevelopment into Creative Space\",\"datePublished\":\"2015-08-31T15:37:37+00:00\",\"dateModified\":\"2020-05-18T12:32:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/\"},\"wordCount\":342,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/14201-Franklin-Ave.-in-Tustin-California.jpg\",\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/\",\"name\":\"Transwestern Facilitates Office Asset Redevelopment into Creative Space - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/14201-Franklin-Ave.-in-Tustin-California.jpg\",\"datePublished\":\"2015-08-31T15:37:37+00:00\",\"dateModified\":\"2020-05-18T12:32:29+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/14201-Franklin-Ave.-in-Tustin-California.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/14201-Franklin-Ave.-in-Tustin-California.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Transwestern Facilitates Office Asset Redevelopment into Creative Space\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\\\/\\\/www.linkedin.com\\\/in\\\/ioana-adriana-pop-811772108\\\/.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adriana-pop\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Transwestern Facilitates Office Asset Redevelopment into Creative Space - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/","og_locale":"en_US","og_type":"article","og_title":"Transwestern Facilitates Office Asset Redevelopment into Creative Space","og_description":"Transwestern has arranged equity and debt financing for the acquisition and repositioning of a flex research and development facility in Tustin, Calif.","og_url":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-08-31T15:37:37+00:00","article_modified_time":"2020-05-18T12:32:29+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/14201-Franklin-Ave.-in-Tustin-California.jpg","type":"","width":"","height":""}],"author":"Adriana Pop","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/"},"author":{"name":"Adriana Pop","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"headline":"Transwestern Facilitates Office Asset Redevelopment into Creative Space","datePublished":"2015-08-31T15:37:37+00:00","dateModified":"2020-05-18T12:32:29+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/"},"wordCount":342,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/14201-Franklin-Ave.-in-Tustin-California.jpg","articleSection":["Los Angeles","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/","url":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/","name":"Transwestern Facilitates Office Asset Redevelopment into Creative Space - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/14201-Franklin-Ave.-in-Tustin-California.jpg","datePublished":"2015-08-31T15:37:37+00:00","dateModified":"2020-05-18T12:32:29+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/14201-Franklin-Ave.-in-Tustin-California.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/14201-Franklin-Ave.-in-Tustin-California.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/transwestern-facilitates-office-asset-redevelopment-into-creative-space\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Transwestern Facilitates Office Asset Redevelopment into Creative Space"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad","name":"Adriana Pop","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","caption":"Adriana Pop"},"description":"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\/\/www.linkedin.com\/in\/ioana-adriana-pop-811772108\/.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-pop\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004126451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/260"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004126451"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004126451\/revisions"}],"predecessor-version":[{"id":1004444266,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004126451\/revisions\/1004444266"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004126451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004126451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004126451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}