CBRE Capital Markets Arranges $32.5 Million In Non-Recourse Financing For Two Properties Located In San Francisco And San Rafael

San Francisco, CA – CBRE today announced that it has arranged $32,500,000 in non-recourse financing for two properties in the San Francisco Bay Area.  The CBRE Debt & Equity Finance Producers, John Nelson, Executive Vice President and Michael Walker, Vice President of CBRE’s San Francisco, Calif. office, worked to originate the loans on behalf of a local property investor / developer. CBRE placed the financing with two separate institutional lenders.

The loan proceeds were used to refinance a single-tenant medical office building located in San Rafael, and a multi-tenant general office building located in the South Financial District of San Francisco.  Both financings carry very competitive interest rates, which are fixed for 10 years and based over the 10 year swap rate. The San Rafael office building will be amortized over a 30 year schedule, while the San Francisco building is interest-only throughout the entire term. Both loans are non-recourse.

John Nelson with CBRE comments, “These financings were very sought after by numerous capital sources because of the assets’ performance, strong market and experienced sponsorship. We delivered the best capital solution to the borrower for both assets, which satisfies the borrower’s immediate and long-term financing objectives.”

The South Financial District of San Francisco is one of the strongest office submarkets within the Bay Area, achieving some of the highest rents in the market and a very low vacancy rate. San Rafael is an affluent Bay Area suburb, located approximately 15 miles north of San Francisco in Marin County.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue).  The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

West Coast Commercial Real Estate News