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7/28/15
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Mitch Zeemont and Stephen Scarpulla of Newmark Realty Capital Inc has arranged $10 mil in refi money for North Canyon Business Center, a 105.8k sf, multi-tenant flex industrial business center situated on approximately 7.89 acres in Livermore. The property was 94% occupied at time of funding.
The borrower is a Pleasanton-based, family run real estate investment company. The non-recourse loan has a 10-year term and is based on a 25-year amortization schedule. It was funded through Lincoln Financial Group.
The mulit-tenant, flex/industrial property is located in Livermore Valley, about 30 miles east of and behind the first coastal range of mountains that surround the San Francisco Bay Area. Livermore is considered part of the Tri-Valley area, including Amador, Livermore and San Ramon, all of which are part of Alameda County. The property is located near I-580, a crucial artery that facilitates commerce and traffic from the San Francisco Bay Area to Central California.
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