|
|
9/27/18
|
True North Capital Management has secured $34 mil in bridge debt financing for the recapitalization of Valencia Corporate Plaza, a 194.7k sf office property in Valencia. The new financing was arranged by CBRE Capital Markets’ Debt & Structured Finance and funded by Amherst Capital Management.
Valencia Corporate Plaza, is a three-building mid-rise office that was built in 1999 (two buildings) and 2007 (one building). The property, located at 28470-28490 Avenue Stanford, benefits from an exceptional location fronting I-5 with signage visibility and excellent access.
The surrounding market offers a quality of life, affordability of housing, and availability of space that is in short supply in Los Angeles County. Valencia Corporate Plaza is situated in a high-growth area where a recently approved $12 bil community development will deliver 21,500 new homes and an estimated 8.4 msf of commercial space over the next 15-20 years.
CBRE’s Marina Massari, Sharon Kline and Evan Chan facilitated the loan for True North. The debt has a three-year term, with two extensions, and full-term interest only.
“Recent upgrades, great building bones, and its central location close to a multitude of amenities, make Valencia Corporate Plaza a fantastic opportunity,” said Massari. “With additional leasing over the term of the loan which will add to an already desirable and high credit tenant roster, the asset will become even more attractive to investors.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
