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10/14/15
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Swift Real Estate Partners has obtained $17.1 mil in mezz financing for the redevelopment of Airport Technology Park, a six-building, multi-tenant office park totaling 295.4k sf in Santa Clara. The loan was provided by PCCP LLC.
Swift acquired the property in July 2015. Their plan is to create a campus-like property targeted to tenants that desire a high quality feel without paying a rent premium for new construction in the submarket. The mezzanine loan will fund the majority of these capital improvements.
Situated on 17 acres, Airport Technology Park is located at 2770, 2800, 2858, 2860, and 2890 De La Cruz Blvd. The property consists of one three-story building, three two-story buildings, and two one-story buildings. It is located in a desirable Silicon Valley office and R&D market that offers significant energy cost advantages from Silicon Valley Power.
Airport Technology Park is directly adjacent to the San Jose International Airport and just two miles from the Santa Clara Caltrain Station It provides direct access to the Central Expwy, US-101 and all major Silicon Valley thoroughfares.
Some of the planned capital improvements include: upgrades to the façade and lobby; adding outdoor amenities, a fitness center and café; and conducting landscaping and identity improvements.
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