San Francisco (February 26, 2013) – Cohen Financial, a national real estate capital services firm, today announced that it has secured more than $14 million refinancing for the Echelon Corporation’s headquarters comprising two, three-story “Class A” office buildings located at 550 Meridian Avenue in San Jose, California. The buildings are fully leased by Echelon Corporation.
Paul Schroeder, a Managing Director in Cohen Financial’s San Francisco office, secured the fixed-rate, long-term, non-recourse financing. The lender is Sun Life Financial. The borrower is a local commercial real estate developer.
“The real estate fundamentals, strong location and burgeoning high-technology market in Silicon Valley were all attractive factors for Sun Life,” said Mr. Schroeder. “The property is located in the immediate proximity to the light rail station and surrounding residential and mixed use development will continue to transform the area.”
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 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.