San Francisco, CA (February 26, 2020) — Newmark Knight Frank has arranged permanent financing of 2075 Broadway (the “Property”), a recently-completed 114,859 square foot office building located in downtown Redwood City, California which serves as the headquarters for the Chan Zuckerberg Initiative (“CZI”).
Newmark Knight Frank’s Senior Managing Director Chris Moritz, Vice Chairman Ramsey Daya and Director Travis Bailey of the Debt & Structured Finance team in the San Francisco office executed the financing on behalf of the buyer Lane Partners, LLC. The loan was placed with an Asian life insurance company.
“2075 Broadway is a best-in-class asset within one of the peninsula’s most sought- after locations. The strong level of interest from the debt markets was reflected by the asset’s exceptional attributes.” says Moritz.
The four-story Class A building is prominently located at the intersection of Broadway and Jefferson in the heart of Downtown Redwood City, located a short walk from the Redwood City Caltrain Station and less than a 5-minute drive from the 101 Freeway. This one-of-a-kind location affords tenants direct access to the downtown’s walkable amenities convenient transportation options.
About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 18,000 professionals operate from approximately 480 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management.