|
7/28/15
|
CBRE Capital Markets’ Debt & Structured Finance team has arranged $14.2 mil in long-term, non-recourse financing for two Bay Area office properties on behalf of separate owner/operators. Jim Korinek of CBRE’s San Francisco office originated the loans.
The properties are 601 Mission Street in San Francisco, and 2055 Laurelwood Road in Santa Clara. Both properties are multi-tenant with a concentration of technology occupancy.
A regional bank provided $6.2 mil for 601 Mission Street while a national life insurance company provided $8 mil for 2055 Laurelwood. The non-recourse financings carry very competitive interest rates that are fixed for the entire loan term. Given the current low interest rate environment, the borrowers preferred a longer fixed-rate term than the typical 10-year financing.
|
|
Return to the Archive page
|
|
|
|
|