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8/18/26
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Miramar Capital has obtained a $16.5 mil cash-out refinance loan for The Atrium at Lakeside, a 99.3k sf, multi-tenant office building in Santa Clara. The building sits on 4.11 acres at 2880 Lakeside Dr, in the heart of Silicon Valley.
The property is currently 85% occupied and is the only renovated multi-tenant office building in the immediate area. The three-story building features a renovated lobby, outdoor common areas, 351 surface parking stalls, EV charging stations, a fitness center with lockers and showers, and AT&T fiber and WiLine broadband connectivity.
Zachary Streit, Founder and President of Priority Capital Advisory arranged the full-term, interest-only, non-recourse loan, which provided cash-out proceeds to the borrower. According to Streit, they canvassed 101 lenders, generated seven quotes, and ran two term sheets head-to-head before moving forward with this loan.
The property’s surrounding Silicon Valley area is home to the highest concentration of globally recognized technology companies in the world, including Apple, NVIDIA, Meta, Microsoft, AMD, and Amazon. NVIDIA’s rapid expansion in Santa Clara has led to a meaningful shift in the Silicon Valley office market, with demand moving south from the submarkets of Palo Alto (anchored by Meta) and Mountain View (anchored by Google and Microsoft) to the Santa Clara and Sunnyvale submarkets. This shift has positioned Santa Clara, and The Atrium at Lakeside’s central Santa Clara submarket in particular, as a premier office destination for top technology and AI companies.
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