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3/13/26
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Big Property Ventures and Baskin Investment Group have obtained a $13.5 mil loan to refinance a timely maturity on a historical office building located at 384 University Ave in Palo Alto. The three-story property offers approximately 14.5k sf of rentable space in a prime downtown location, featuring street-level retail with two office floors above. The property is currently 100% leased with a staggered lease roll.
Gantry’s Jeff Wilcox, Principal, and Joe Foley, Senior Associate, with the firm’s San Francisco production office arranged the financing. The five-year, fixed rate loan was provided by an institutional pension fund lender with terms including first year interest-only followed by a 25-year amortization.
“We have seen a dramatic improvement to the case for office, with a growing number of lenders returning to the asset class after a pause on new originations in recent years,” commented Wilcox. “For this asset, attentive management and a strong leasing program from experienced sponsors like Big Property Ventures and Baskin Investment Group support the operation of a well-maintained, unique historic building with character. Located in a vibrant, pedestrian-friendly downtown district, the property checks all the boxes for a permanent financing option.”
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