$10MM In Permanent Financing Arranged For a Multi-Tenant Flex R&D Building in Menlo Park

Menlo Park Newmark Realty Capital Haven industrial area Jeff Wilcox Principal Charlie Kokernak 155 Jefferson Drive

Website-Photo-Template-1

MENLO PARK, CA – Working on an exclusive basis, Jeff Wilcox, Principal, and Charlie Kokernak, Associate, of Newmark Realty Capital, have arranged $10,000,000 in permanent financing for a multi-tenant flex R&D building in the Haven Industrial area located at 155 Jefferson Drive in Menlo Park, CA. The building, located in a quickly transforming area due to high intensity of redevelopment by Facebook and multiple local developers, was recently demised for two spaces and re-tenanted with long term leases. The financing was placed with one of Newmark’s correspondent life insurance companies and features a long term, fixed-rate that fully amortizes over the term of the loan.

Newmark Realty Capital, Inc. is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Newmark arranged more than $2.3 Billion in loans for its clients.

West Coast Commercial Real Estate News