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5/21/15
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An affiliate of Oakmont Corporation has acquired the Broadcom Building, a 200k sf building in San Jose that is fully occupied by Broadcom Corporation, in a deal valued near $55 mil. The purchase was funded by $35.7 mil in financing arranged by MetroGroup Realty Finance.
The property, which includes R&D space, a data center and corporate offices, is located at 3151 Zanker Rd, north of Montague Expwy on the west side of I-880, just outside of Silicon Valley’s tech epicenter.
Patrick Ward, Founder of Newport Beach-based MetroGroup Realty Finance, arranged the deal for Broadcom, a Fortune 500 tech company that is recognized as a leader in semiconductor solutions for wired and wireless communications. The loan had a 65% loan-to-value.
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