Adler Partners “preparing to abandon” Valencia office campus: Morningstar
Adler Partners isn’t making enough money to pay off the loan backed by its leasehold interest in an office campus in Valencia, or cover a pricey ground lease — and “is now preparing to abandon the property,” according to Morningstar Credit. Founder Matthew Adler did not respond to requests for comment. Valencia Town Center is a 395,000-square-foot, multi-building office and retail campus in the City of Santa Clarita. It’s near the Valencia Town Center mall and FivePoint’s master-planned community, with addresses running from 24300 to 24305 Town Center Drive, 24200 to 24204 Magic Mountain Parkway, and 26950 Theater Drive to […]This article originally appeared on The Real Deal. Click here to read the full story.
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