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5/27/15
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Newmark Realty Capital Inc has arranged $25 mil in permanent financing for two mid-rise office buildings totaling 102k sf of space in the North Waterfront area of downtown San Francisco. Both buildings were extensively renovated by the borrower in 1999. Tenants include a publisher of educational materials as well as technology tenants.
George Mitsanas, Principal, and Doug Tisdale, Associate, in Newmark’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower, a San Francisco-based developer. The 15-year loan was placed with one of Newmark’s correspondent life insurance company lenders. Mitsanas had also financed this property previously for the same borrower.
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