|
|
5/11/17
|
Swift Real Estate Partners has refinanced its Rosewood Commons office property with a $152 mil loan arranged by CBRE Capital Markets’ Debt & Structured Finance and funded through a domestic bank. Rosewood Commons is a five-building, 863k sf Class A office campus in Pleasanton.
Located at 4400 Rosewood Dr, the amenity rich office campus features a state-of-the-art conference center, cafeteria and sports recreation facilities. Ideally located in the heart of East Bay’s Tri-Valley, Rosewood Commons benefits from highway visibility and immediate access to Interstate 680, 580, and BART.
CBRE’s Michael Walker, Brad Zampa, Megan Woodring, and Taylor Shepard arranged the floating-rate loan at a competitive spread priced over 30-day LIBOR. The borrower is an entity owned and controlled by Swift that repositioned and modernized the campus since acquiring it in 2014. Since then, leasing has jumped from 10% to 95%.
Pleasanton is home to one of the highest profile tenant concentrations in the East Bay due to the region’s exceptional quality of life and abundance of housing and transportation options. Notable companies with a corporate headquarters or major presence include; GAP, Inc., PeopleSoft, Ross Dress for Less, Thoratec, Workday, Clorox, Kaiser Permanente, Safeway, and Oracle.
Since 2006, nearly 1.95 msf of owner/user purchases have decreased the available stock of leasable office space, affirming these companies’ commitment to the area. Despite Pleasanton’s outstanding projected rent growth over the next five years, Pleasanton is still expected to provide an attractive average rental rate discount compared to San Francisco CBD, Oakland CBD, Silicon Valley and the Peninsula.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
