Cushman & Wakefield advised Saca Capital in procuring a $91,000,000 financing package from Rialto-Hines for One America Plaza, a Class A office tower located at 600 W Broadway in Downtown San Diego. A Cushman & Wakefield Equity, Debt & Structured Finance team of Rob Rubano, J.P. LeVeque, Ernesto Sanchez and Lars Weston represented the borrower, which paid a reported $120 million for the property.
“This execution reflects the current strength and liquidity of the credit markets and underscores the lender demand for best-in-class office financing opportunities,” said Rubano. “One America Plaza stands as a premier market-leading asset and this financing will support its continued success in the competitive San Diego office market.”
As the tallest building in San Diego, One America Plaza is considered among the most highly sought-after office addresses in its submarket. Saca Capital acquired the building from the Irvine Company, which invested significant capital throughout nearly two decades of stewardship.
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