Aliso Viejo-based Quest Software Inc. has taken out debt on its headquarters in a deal valued at $34 million.
Quest, which makes software to monitor and improve the performance of databases and other business programs, took out a loan on its headquarters to take out part of its stake in the buildings as cash.
The company had owned its two-building headquarters complex after first paying $14 million for the site’s 78,000-square-foot, three-story office building in 2004.
It later paid $18.6 million for the site’s 89,000-square-foot building.
Quest’s loan on the building is at 7%, according to the Newport Beach office of Chicago-based real estate finance company Cohen Financial LP.
Mutual of Omaha Bank is the lead lender.
Quest didn’t need the cash from its building. As of June 30, the company had cash and short-term investments of $331 million, up from $310 million at the end of March.
It generated $24.3 million in cash flow in the second quarter.
