Newmark represented West Capital Lending in its $23.75-million acquisition of 17911 Von Karman Ave., a 104,375-square-foot, five-story Class A office building located in the Irvine Concourse submarket of Irvine. Executive managing directors Jay Nugent and Scott Read represented the buyer. The seller was John Hancock Life Insurance, which had owned the building since 2016.
In the owner-user transaction, West Capital Lending, a leading mortgage brokerage and direct lending company specializing in residential mortgage loans, will occupy approximately half the building to establish a significant corporate headquarters presence. Two additional tenants continue to occupy the first and second floors.
“17911 Von Karman presented us with the opportunity to acquire a Class A office building in the heart of the Orange County Airport market,” said Eric Hines, Co-Founder, West Capital Lending. “This building will allow our company to continue to grow while providing our employees with a first-class working environment surrounded by a robust amenity base.”
