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6/22/17
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An affiliate of Harbor Group International LLC has obtained $45 mil in long-term financing for its acquisition of Torre Plaza, an 88.6k sf, Class A, institutional-quality office building in Cupertino. The ten-year interest-only loan was arranged by CBRE Capital Markets’ Debt & Structured Finance team and funded by J.P. Morgan.
The three-story property is situated on a 4.2-acre site in the heart of Cupertino. The property is 100% leased to a leading online retailer.
CBRE’s Shawn Rosenthal secured the loan. According to Rosenthal, the combination of an AA- credit rated tenant, strong and active sponsorship group, and the healthy Cupertino office market led to heated competition for this loan from the financing markets.
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