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12/11/17
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GREYSTONE - A 33-unit multifamily property in Century City was refinanced with a $10.1 mil loan funded through First Pacific Financial. The 10-year, fixed-rate Fannie Mae loan was arranged by Matt Stevens of Greystone. The Class A property is comprised exclusively of one-bedroom / one-bath / office units detailed with high-end appliances and interior finishes. The property also includes charging stations for electric vehicles.
CBRE CAPITAL MARKETS - Michael Walker, Megan Woodring, Noah Reischman, and Taylor Shepard of CBRE’s Capital Markets’ Debt and Structured Finance team has an $8 mil refi loan on Country Inn and Suites in San Carlos. The 10-year fixed rate loan was non-recourse with an approximate 4.25% interest rate. The three-story, 51-room hotel, is located at 251 El Camino Real. Ideally located adjacent to Hwy 101, the Country Inn & Suites is popular for both tourism and corporate travel to San Francisco, the Peninsula and Silicon Valley. Directly adjacent to the Caltrain station, the property is easily accessible by public transit and provides proximity to a large number of nearby restaurants and retail.
MERIDIAN CAPITAL GROUP – Seth Grossman and Jackie Tran with Meridian Capital Group arranged $6.8 mil in financing for an office-industrial flex space in San Diego, on behalf of a locally-based, private real estate investment company. The 24-month loan, provided by a balance sheet lender, includes interest-only payments. The property, located at 10170 Sorrento Valley Rd, is a two-story, 40.8k sf building that is now home to the California headquarters of Lighthouse Strategies, LLC. Well-situated in the Sorrento Valley and Sorrento Mesa submarkets, the property is a short distance from major transportation routes, including Interstate 805 and Interstate 5, and in close proximity to restaurants, cafes, banks, and shopping.
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