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July 25, 2024
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Roseville Office Campus Recapitalized with New $41 Mil Loan


Broe Real Estate Group has obtained a new $41.2 mil senior loan in an off-market recapitalization of Parkway Corporate Plaza in Roseville, about 20 miles northeast of Sacramento. The financing was provided by PCCP LLC.

The property, which endured a loan default prior to Broe’s involvement for the recapitalization, includes four multi-tenant buildings totaling 287.5k sf on four parcels totaling just over 28 acres. Built in 2001, Parkway Corporate Plaza is located at 1620, 1640, 1660 and 1680 East Roseville Pkwy, north of Douglas Blvd and east of I-80. The property consists of a single two-story building, along with three one-story buildings.

Parkway Corporate Plaza is 85 percent occupied by six tenants including Kaiser Permanente, Wells Fargo, Act-On, and Sutter Medical Foundation. The property is very close to services, executive housing and two large hospitals, and benefits from convenient highway access via I-80 and I-65.

The Roseville submarket is one of the most desired commercial and residential locations in the Sacramento region. Roseville has a population of 125,000 and includes 7.5 msf of office product. The project is located within the 3.5 msf Douglas Boulevard Corridor submarket, which is the best-performing office location in the greater Roseville market, with a vacancy of approximately 12 percent.

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