MetroGroup Realty Finance Secures $34.3M in Acquisition Financing for San Diego Flex Campus

by Nellie Day

SAN DIEGO — MetroGroup Realty Finance has secured $34.3 million in acquisition financing for a 132,695 square-foot office/flex campus in the Kearney Mesa submarket of San Diego. The complex is located at 9404 Chesapeake Drive and 5775, 5785 & 5788 Roscoe Court.

The borrower was Klein Investment Family Limited Partnership, which was involved in a 1031 exchange. The financing included permanent financing for a seven-year term and 25-year amortization schedule and an interest-only bridge loan floating over LIBOR for a one-year term.

The campus is fully leased to Cobham Advanced Electronic Solutions, a subsidiary of UK-based Cobham PLC, a technology company for the aerospace and defense industries.

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