M Foreclosure Auction for Heights Campus
The Heights, a five-building, 489,817-square-foot office complex in Aliso Viejo, has seen its lender take over the property via a foreclosure aucti...
The Heights, a five-building, 489,817-square-foot office complex in Aliso Viejo, has seen its lender take over the property via a foreclosure auction, trading hands for less than half its prior valuation. The collection of high-end midrise offices is now in the hands of Los Angeles-based commercial real estate debt manager Acore Capital, which paid $70 million and was the highest bidder at a recent auction, according to property records. The deal works out to around $143 per square foot for the five buildings.