(EDITOR’S NOTE: The Peninsula Land & Capital-owned property is located at 1501 Industrial Road in San Carlos. It was acquired by the Palo Alto-based private equity commercial real estate investment in February of 2016 for $36,400,000, according to public records.)
SAN CARLOS, CA – Newmark has arranged $27,000,000 of financing for the six-building, industrial/R&D business park totaling 103,000 square feet. The property is 100% occupied by nine tenants. Principals Robert Slatt, Jeff Wilcox and William Monheit and Associate Vice President Erinn Cooke worked on behalf of the borrower to arrange the non-recourse financing on a 10-year term with a 30-year amortization. Newmark arranged the loan with one of its correspondent lenders and will service the loan on behalf of the lender.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,200 loans located in 40 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.