JLL Capital Markets announced that it has secured a $49 million financing for Amway South Campus Sale-Leaseback, a 13.75-acre property located in Buena Park, California.
JLL worked on behalf of the borrowers, a joint venture between Shopoff Realty Investments and another investor, in arranging a two-year, fixed-rate stretched senior loan.
The property, currently occupied by Amway Corporation, consists of two connected buildings totaling 370,031 square feet. As part of the transaction, Amway will execute a 24-month sale-leaseback agreement, providing near-term cash flow while the new owners pursue entitlements for residential redevelopment.
“This acquisition represents a unique opportunity to transform an existing industrial asset into much-needed housing in a supply-constrained market,” said William Shopoff, President and CEO of Shopoff Realty Investments. “We’re excited to work the City of Buena Park to bring this vision to life.”
The property’s strategic location in Buena Park offers excellent access to major transportation corridors and employment centers throughout Orange County and the greater Los Angeles area.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Director Jamie Kline and Associate Kyle White.
“The strong fundamentals of the Orange County housing market, combined with the experience of Shopoff, made this an attractive opportunity for lenders and preferred equity groups,” said Kline. “We’re pleased to have secured favorable financing terms that will support the joint venture’s business plan.”
This transaction highlights the ongoing trend of repurposing underutilized commercial properties for residential use, addressing the critical housing needs in Southern California’s high-demand markets.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
