CBRE Secures $121MM Loan for Development of Indigo in Redwood City, CA

Redwood City, Indigo, CBRE, The Pauls Corporation, Mount Kellett Capital Management, San Mateo real estate news, Bay Area news, development, housing

Los Angeles – May 7, 2014 – CBRE Capital Markets’ Debt & Structured Finance team today announced it has arranged a $121 million non-recourse loan for the development of Indigo, a 470-unit, mid-rise apartment building in Redwood City, California.

525 Middlefield Road Redwood City real estate The RegistryBrady O’Donnell of CBRE’s Denver office, along with Andrew Behrens and Jesse Weber from CBRE’s San Francisco office, and Mike Bryant from CBRE’s Dallas office, arranged the financing for Indigo on behalf of developer, The Pauls Corporation, a real estate development, investment and management company based in Denver, and Mount Kellett Capital Management, a multi-strategy investment firm, to secure the four-year, floating-rate loan through Wells Fargo.

“The strength of CBRE’s national platform combined with its ability to collaborate with specialists in different markets enabled us to meet the unique needs of our client and ultimately solidified the transaction,” said Mr. O’Donnell.

Construction of the building, which is located at 525 Middlefield Road, is scheduled to commence in May 2014. The developers hope the development’s proximity to major transportation hubs and mid-peninsula location will attract residents who work in San Francisco County or Santa Clara 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 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 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.

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