You won’t hear a lot about office woes in Orange County, but nowhere is perfect. The commercial mortgage-backed securities debt connected to an office park located in Westminster went to special servicing after the borrower defaulted on about $16 million debt after eight months of delinquency, according to Morningstar Credit and Trepp. The three-building, mid-rise, office campus at 5405, 5455 and 5555 Garden Grove Boulevard, with a total of 150,000 square feet, is owned by Younan Properties, which did not immediately respond to a request for comment. The property is worth $28 million, or $187 per square foot, according to […]
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