CBRE Secures Refi on Redwood City Offices:- 101 Redwood Shores is a Class A office building that is located in Redwood City. The Debt & Structured Finance group of CBRE Capital Markets was successful in securing a loan for $37.75 million in order to refinance the building.
CBRE Secures Refi on Redwood City Offices
Diamond Investment Properties was represented by Executive Vice President Mike Walker and Brad Zampa, both of whom are members of the Northern California Capital Markets Institutional Properties team of CBRE Real Estate. The loan was initially established by a financial institution based in Chicago.
According to Walker, “the property’s contemporary amenities, prime location, and the opportunity for a long-term relationship with the sponsor led to an attractive outcome resulting in an attractive outcome.”
Given the broader challenges that are now present in the asset class, financing office properties needs an enormous amount of inventiveness at the moment.
Achieving a balance sheet execution that includes an accretive mix of price and proceeds is a victory that establishes a strong benchmark for the market at a time when liquidity is beginning to return to the asset class.
At 101 Redwood Shores, an office building that is more than 100,000 square feet in size, Zuora has a full lease on the entire property for about five years.
On the San Francisco Peninsula, it is situated in close proximity to Federal Highway 101.