San Francisco (August 9, 2013) – Cohen Financial, a national real estate capital services firm, today announced that its San Francisco office has secured $13.95 million in loans for three retail properties and one multifamily property on the West Coast. Each property is fully leased.
Paul Schroeder, Managing Director in the San Francisco office, originated one of the four transactions, a $3 million refinance for Victoria Lane, a well located and fully leased mixed-use office and retail property in Menlo Park. The loan has a 15-year term and a 4.25 percent interest rate. The borrower is a local developer, and the lender is Lincoln Financial Group. Cohen Financial’s Loan Administration platform is servicing Mr. Schroeder’s loan.
Kenneth M. Fox, CCIM, Managing Director in Cohen Financial’s San Francisco office, originated the other three of the four transactions.
Mr. Fox secured $2.2 million in acquisition financing for a retailer of RV supplies, accessories and services located in Northern California. The borrower is a Bay Area real estate investor, and the lender is Umpqua Bank. Mr. Fox secured a $4.75 million refinance for a mixed-use office over commercial street retail property in Berkeley. The borrower is a Bay Area investor and developer, and the lender is Sun Life Financial.
Mr. Fox also secured a $4 million refinancing of the Countryside Apartments, a 108-unit multifamily property in Spokane, Washington. The borrower is a long-term Cohen Financial client, and the lender is Sterling Bank.
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, investment brokerage, loan administration and advisory services. The company was named top originator for specialty finance in the MBA 2012 Commercial Real Estate/Multifamily Finance Firms–Annual Origination Volumes report. Cohen Financial is well recognized as one of the nation’s leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company recently launched an Equity Practice to help borrowers complete their capital needs and an enhanced Capital Advisory and Valuation Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.