$12.75MM in Financing Arranged for De Ritz Office Building in San Mateo

Newmark, San Mateo, El Camino Real, San Francisco, Bay Area

Newmark, San Mateo, El Camino Real, San Francisco, Bay Area

SAN MATEO, CA, May 2, 2017 – Newmark™ has arranged refinancing in the amount of $12,750,000 secured by a 62,661 SF multi-tenant space in San Mateo, CA. The 100% occupied, four-story, Class-B office building is located blocks away from the Highway 92 and sits directly across the El Camino Real from a Safeway anchored shopping center, positioned between numerous small, single-tenant office, and retail buildings.

Jeff Wilcox and Mitch Zeemont, Principals, and Darija Walker, Associate, in Newmark’s San Francisco office, arranged the non-recourse, 10-year term, 25-year amortization with one of Newmark’s correspondent relationships. Newmark will service the loan. Pricing and other terms were not disclosed.

About Newmark
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive 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 nearly $10 billion representing over 1,100 loans located throughout the country. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.

West Coast Commercial Real Estate News