The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 6, 2021
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Commercial Real Estate Financing Briefs


GRANDBRIDGE REAL ESTATE CAPITAL - Hunter Curtis and Taylor Curtis with Grandbridge Real Estate Capital originated a $45 mil first mortgage loan secured by 4100 Newport Place Drive, a 190.4k sf, Class A office property in Newport Beach. The building is one of the largest and highest profile buildings in the prestigious Newport Beach office market. The BOMA Building of the Year award-winning property features an exceptional four-floor vaulted atrium lobby, onsite café, convenience store, car wash and conference center. LEED Gold certification is pending. The permanent, fixed rate loan was provided through one of Grandbridge’s insurance company correspondents. The 15-year nonrecourse financing was structured with an initial period of interest-only and did not require the borrower to have any reserves or escrows.

GEORGE SMITH PARTNERS – Jonathan Lee, Shahin Yazdi, Olga Alworth, David Stepanchak, Matthew Kirisits, and Samuel Sarshar of George Smith Partners secured $9.2 mil for the non-recourse cash-out refinance of a newly built, 25-unit multifamily building located in Los Angeles. The building is situated in one of the most sought after areas in Los Angeles and is in close proximity to popular restaurants, bars and entertainment in nearby Culver City. The construction take-out permanent loan is fixed at 5.04% for ten years with full term interest-only and has a yield maintenance prepayment penalty structure. The building was in lease up when the financing process started. The lender was willing to provide proceeds at over 90% of cost and understood the strength of the asset in addition to the experience of the developer. Based on these strengths, the lender was able to underwrite to in-place income without seasoning, proforma operating expenses, and a 7.35% debt yield, which maximized loan proceeds. The loan was funded once the property achieved 80% physical occupancy.

BUCHANAN STREET PARTNERS -- Buchanan Street Partners has provided $4.25 mil in non-recourse bridge financing to Cypress West Partners for its purchase of a 15k sf medical office building in Tucson, AZ. Cypress, which owns or manages a portfolio of 2.4 msf of medical office properties in the Western U.S., executed two 10-year leases for 100% of the building prior to closing. The building is 50% leased to one of the nation’s leading operators of general acute hospitals, which has 119 hospitals in 20 states. A regional pain management clinic operator will occupy the balance of the building. Buchanan’s Joseph Maehler arranged the transaction.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2021 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media